Feldmuehle Off to Good Start after Completing Insolvency Process
Feldmuehle develops and manufactures high-quality white coated label papers and packaging papers.
March 5, 2020 - Feldmuehle announced that it has had a successful start to the year after completing the insolvency process in January.
In the first two months, the company exceeded its sales targets, and the development of new products — especially based on recycling fibres — is on schedule.
On March 1, 2020, the management decided, based on the adjusted corporate planning for 2020 and the capital strength of the company through the completed financing, to make all payments to the creditors, due by June 30, 2021, prematurely and in full. Payments of several million euros were made on March 2, 2020.
With the payments, Feldmuehle completely fulfilled all of the financial obligations from the restructuring plan about 15 months in advance, thereby replacing all third party rights.
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