Switzerland’s Biopetrol announces $12.6 million loss, restructuring

In Switzerland, Biopetrol said it would prepare for financial restructuring after announcing a $12.6 million loss for 2008 on sales of $378 million.  The company said that since January it has experienced flat sales growth and increasing pressure on margins. The company said that without restructuring, it will default on $3.78 million in convertible note payments.

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