PaperAge editor's note: The following news story is from Ambito, one of Argentina's most widely read economic newspapers. All dollar figures are in Argentine pesos.
Sept. 2, 2025 - Celulosa Argentina, the historic paper mill with over 100 years of history, has entered a critical phase that threatens its continued existence. After months of default, idle plants, and a failed debt restructuring, the board of directors has decided to file for bankruptcy to try to avoid a disorderly outcome.
The latest balance sheet figures leave no room for optimism: the company accumulated losses of $172.634 billion (Argentine pesos), a 44% drop in revenue, a negative EBITDA of $20.146 billion and a net worth of $23.774 billion, which left it in a situation of technical bankruptcy.
The board itself acknowledged in the minutes of the August 29 meeting that "the Company has suffered a significant drop in sales, reaching approximately 52% in the last six months compared to the same period last year." Overall, domestic sales plummeted 32% in tons, while exports increased 104%, albeit with much lower margins.
The company admitted that "operating costs have increased significantly, especially in dollars, and could not be passed on to prices due to the lack of demand and the threat of imports." This combination led to a 17% drop in gross profitability and a 31% drop in operating profit, compared to a year earlier when margins were positive at 25% and 14%.
Due to a lack of liquidity, the company shut down its industrial plants in Capitán Bermúdez (Santa Fe) and Zárate (Buenos Aires), which have remained idle since late July. Meanwhile, its Corrientes subsidiary Forestadora Tapebicuá also halted production indefinitely, affecting more than 500 workers and forcing the provincial government to provide emergency subsidies.
The financial deterioration accelerated in May, when … read the full article on Ambito's website
SOURCE: Ambito
Celulosa Argentina SA has one pulp manufacturing plant and two paper manufacturing plants, located in the towns of Capitán Bermúdez (Santa Fe Province, Argentina) and Zárate (Buenos Aires Province, Argentina). The main products are printing and writing paper, tissue paper, and packaging paper.