Goss Graphic Systems has won final court approval for its 63m ($90m) debtor-in-possession lending facility, and used last weeks Ifra show in Geneva to confirm 70m of new orders.

The lending facility refinances certain bank indebtedness owed by Goss to a group of lenders, and will provide it with up to 34m more liquidity, including letters of credit.

Goss president Richard Sutis said the approval was a "big step forward".

The group will now carry on with the reorganisation plan it filed when it started Chapter 11 bankruptcy proceedings on 10 September (PrintWeek, 14 September).

Sutis said Goss was on track for its plan to be confirmed by early 2002, when it will emerge as Goss International. Presses will be built in Europe and Asia following the closure of the groups last US manufacturing plant (PrintWeek, 7 September).

Among Goss orders confirmed at Ifra in Geneva was Trinity Mirrors Colorliner 70 for the Western Mail & Echo papers in Cardiff (PrintWeek, 5 October).

LUnione Sarda in Sardinia also placed on order for two Universal 50 presses for installation at its plant in Cagliari, while Norrtelje Tidningstryck of Sweden bought an additional four-high tower for its Universal 50.

Goss European marketing director David Stamp said visitor numbers at Ifra were 15-20% down on last year but added that much of the reduction was due to the show taking place outside its spiritual home of Amsterdam.

"Visitor numbers were far better than those of the worst predictors," he said, although he added that the number of long-haul travellers was down, while some European visitors had been affected by Swissairs financial predicament.

Story by Gordon Carson