Investments

Insolvency averted for Kübler & Niethammer

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The German paper producer Kübler & Niethammer Papierfabrik Kriebstein has found an investor. The company has announced that it signed and reached an agreement with the Schönfelder paper mill at the end of last January. The agreement is expected to guarantee the continuation of the production and the payment of wages for the 150 employees of Kriebstein.

The German producer of recycled paperSchönfelder Papierfabrik will provide for the distribution of the K&N Paper products and provide the necessary raw materials for production. With the swift decision made by the Cordier family, which owns the Schönfeld paper mill, the Kriebstein operation might continue, as both companies perfectly integrate with one another, as stated by the CEO of the Schönfelder paper mill Felix Cordier. The Schönfelder paper mill employs over 120 people and has an annual turnover of 40 million euro. In the next weeks, the insolvency trustee and the investor will negotiate a final purchase of the Kriebstein plant.

 

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