Unfortunately, Europe's problems are also Paperlinx problems....

Unfortunately, Europe's problems are also Paperlinx problems. Reading between the lines of this update, falling demand coupled with deflation, an all-round European problem are proving a lethal cocktail for the turnaround strategy. Paperlinx emerging businesses are still only a small component of it's overall revenue streams. The company has huge exposure to paper which is a commodity and we all know what's happening to commodity prices. The European business will have to be disposed of and any value realised. I would be surprised if acquisitions eventuated in Europe as the capital structure appears to disallow such adventurism. The company's lenders must be becoming impatient.