Norwegian investors acquire insolvent Vida Paper
Production of premium graphic paper and dissolving pulp at the Lessebo mill will be continued under a new long term ownership, explained insolvency administrator Bertil Stridh.
The insolvent Swedish pulp and paper manufacturer Vida Paper has revealed that its future has been secured after a company named Lessebo Bruk agreed to acquire the Lessebo mill and continue operations at the site. Behind the newly established company Lessebo Bruk are three Norwegian investors Terje Haglund, Roar Paulsrud and Gunnar Hop, all of them “with solid background in pulp and paper”, according to Vida Paper.
Vida Paper, part of the Swedish industrial group Vida AB, employs 230 people at the industrial site in Lessebo. The company runs three paper machines with a total production capacity of 60,000 tpy of uncoated and coloured fine paper and two pulp lines with a total capacity of 30,000 tpy of specialty pulp.
Vida Paper had filed for insolvency in December 2012 at the District Court of Växjo in Sweden. The court had appointed Bertil Stridh as insolvency administrator.
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