Feldmuehle Has Successfully Ended Insolvency Proceedings in Self-Administration
Feldmuehle GmbH operates a paper mill in Uetersen, Germany, with an annual production capacity of approximately 75,000 tons of label paper and flexible packaging papers.
Jan. 6, 2020 (Press Release) - Feldmuehle GmbH, one of the leading European specialty paper manufacturers, has successfully completed the self-administration insolvency proceedings that began at the end of 2018.
After the unanimous approval of all creditors on December 16, 2019 to the insolvency plan submitted by the management, the competent court in Pinneberg suspended the insolvency proceedings on January 2, 2020.
The insolvency proceedings are now over.
The company has concluded an extensive financing package with its financial partners, which ensures long-term financing of the business.
In addition to financing, Feldmuehle GmbH has prepared itself through the restructuring measures implemented in 2019 to act actively in a market environment that is still expected to be challenging. The company has the scope to consistently take advantage of any growth opportunities that arise.
In addition to concentrating on the label product area, investments were made in the production machinery and facilities as part of the restructuring.
Green footstep is part of the corporate strategy
In October, the company started programs to reduce primary energy and use alternative energies in production, sustainably reduce resource consumption — particularly water — and use consumption-optimized logistics.
These programs are latently updated in corporate planning.
Feldmuehle is working on the development of new products
Feldmuehle started a project for the use of waste paper in September 2019, while the company is working on special products for flexible packaging.
Feldmuehle GmbH develops and manufactures high-quality white coated label papers and packaging papers for the German and international market. To learn more, visit: www.feldmuehle-uetersen.com.
SOURCE: Feldmuehle GmbH