Zanders Acquired by Group Led by Terje Haglund
Zanders is now Zanders-Paper GmbH. The acquisition includes the business and paper mill in Bergisch Gladbach, Germany. Paper machine 3 at Zanders' paper mill is pictured above.
Dec. 5, 2018 - Zanders on Nov. 30 announced that it has been acquired by a team led by Norwegian pulp and paper businessman Terje Haglund, becoming Zanders-Paper GmbH effective December 1, 2018. The acquisition includes the business and paper mill in Bergisch Gladbach, Germany.
Terms of the deal were not disclosed.
Dr. Marc d'Avoine, insolvency administrator at Zanders, announced the successful conclusion of the negotiations. “We are pleased that the acquisition will be made by paper professionals who are already very successful in the industry. The continuation of paper production at Zanders is thus assured. All know-how carriers remain on board.”
According to d'Avoine, Terje Haglund and his team will soon introduce themselves to the public. The takeover by a partner already working in paper production would be in any case the best possible solution for Zanders.
“Thanks to the know-how on both sides, there are very good prerequisites for securing the Bergisch Gladbach location for the long term,” d'Avoine said.
Zanders' operations will continue with about 300 employees, however some 150 employees will have to leave the company. For those employees affected by the deal, an 'interim employment society' will continue to pay a large part of the salary for seven months, as well as offer job search assistance. In addition, the works council and the city of Bergisch Gladbach will offer considerable help, such as through a job market where local companies can present their vacancies and personal conversations are possible.
Zanders-Paper is a German manufacturer of high-quality specialty papers and boards for labeling, packaging and graphic applications. To learn more, please visit: www.zanders.com.