I get the impression that the workers and the city both want to get the plant re opened and going again, but Mr. Pucci has run low on funds. If he can find an investor then he might be able to get things going again and pay owed payrolls; unfortunately it is a lot of money so it is unlikely he will be able to find an investor who will share his risk (more likely he’ll have to sell the company at a small loss). It appears that the workers and the city are trying to get the case moved locally so they can expedite bankruptcy proceedings, find an investor and re open the plant, but Mr. Pucci isn't ready to give up control so he may tie up the process in Madrid’s courts rather than let proceedings move to Leon. It is understandable why he wants to retain ownership, yet if he can clear up massive debts by letting go via bankruptcy then that may be the best thing to do. There are a lot of people out of work and that’s all on him and his conscience; it is probably best to let the company go and move on. That's what I'd do...
You almost need a translator to translate the google translations but here is the latest (from today's press)
"Two days ago, Gadea Group President, Gerardo Gutierrez, Leon said his company will take antibiotics along with American and German Metabolix Wacker, with projected employment of 240 workers by 2017.Gadea Group President said the operation would take place without talking to the current owner."The company is an undead, give him the death certificate and the remains give birth to a new company," said Gutierrez."
It appears that Gadea, Metabolix and Wacker are working together which sounds like good news for Metabolix... Unfortunately I don't speak Spanish so I'm relying on google's translation and try to interpret the interpretation that it generates.
RWB, it wasn't a strong buy near $7 but it may turn into one before the end of the week. I agree with other comments here that they investment in waterblock technology may be all they have going for them long term. It may also turn out that their Far Side speakers (or is that near field) have some potential but the real hidden gem here is the waterblock technology. The CEO could stop a lot of bleeding if he simply gave a little info about the potential of that technology and mentioned the size of their investment there. IMHO, anything below $5 is a BUY and anything near $4 is a Strong Buy.