Koehler Group Shopping for US-based Coating Facility
Sept. 23, 2009 - Germany's Koehler Group in its August report said that the group's Managing Board is “vigorously pursuing its plan of expanding the Thermal Paper division and erecting a new Thermal Paper production plant in the USA.”
“We have since dropped the original plan of establishing a complete factory including production and finishing; the project is now focusing on building a coating plant and buying in raw paper from a powerful paper manufacturer in the USA,” said Bruno Schwelling, Koehler's CFO in his report from the Executive Board.
“The final details of this plan, as well as the exact location, will be announced in the final quarter of the year,” Schwelling said.
From October 2008 through January 2009, Koehler had been shopping for a U.S.-based paper mill it could retro-fit to produce thermal paper. However, in late January, Koehler announced that it had discontinued talks with undisclosed sellers and would shelve plans to buy a complete paper mill.
SOURCE: Koehler Group