Well, I would still suspect that Spinnova’s primary goal is to use Tearfil to advance the commercialization of its technology rather than to turn around Tearfil’s current business. The yarn side is probably such a significant part of the overall commercialization of Spinnova’s technology that they couldn’t let a partner in financial trouble slip away. Spinnova is of course not taking those debts upon itself, but I would expect a substantial haircut as part of Tearfil’s PER (Corporate Recovery Process) procedure.
Next week, Janne’s interview about Spinnova’s current status is coming up. It’s been such an eventful period that there will be plenty to talk about 