Reorganisation

Feldmuehle restarts after reorganisation

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In December last year Feldmuehle a paper mill in Uetersen, near Hamburg, had announced their intention to concentrate on manufacturing special papers (papers for labels which are resistant to humidity and flexible packaging), discontinuing the manufacture of graphic paper and closing paper machine 2 late 2018.

Last 28 January, the management and works council signed a conciliation of interests and a social plan within the framework of the reorganisation. Most of the employees have accepted the company’s offer to change over to a transfer company in order to be able to gain further qualification on the labour market. Feldmuehle will continue its business with approximately 200 employees.

The new business model of special papers includes all the required measures to improve profitability and therefore the sustainable competitiveness of the company. Feldmuehle will continue to serve international markets, producing high quality paper for labels and flexible packaging, with an annual volume of about 75 thousand tonnes.

Also last 28 January insolvency proceedings were started on Feldmuehle’s assets at the District Court in Pinneberg, in accordance with the Management’s proposal. This plan should be implemented by summer 2019. All the preceding reorganisation phases have been carried out as envisaged and the company is adhering to its current company plan. Since 15 June 2018 the company has been part of a branch of the Beteiligungsgesellschaft Kairos Industries in Berlin.

 

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