Uetersen-based Feldmuehle GmbH, a German manufacturer specializing in coated label papers and flexible packaging papers, has filed for insolvency under self-administration as it seeks to restructure and stabilize its operations.
Feldmuehle submitted a petition to the local court in Pinneberg to initiate insolvency proceedings in self-administration on 27 May. Following the request of the company's management, the Pinneberg Local Court has placed the company under provisional insolvency proceedings in self-administration and appointed attorney Andreas Romey of Eckert Rechtsanwälte in Hamburg as the preliminary trustee.
Production at the Uetersen facility is currently on hold but is expected to resume on 6 June.
Feldmuehle operates one paper mill in Uetersen, north of Hamburg. According to the company's website, Feldmuehle is selling 80,000 tpy of paper to customers in 90 countries worldwide.
Feldmuehle's product portfolio includes wet-strength and alakli-resistant label papers, as well as specialty packaging papers. The company’s strong order backlog and the future viability of its products are considered positive indicators and give hope for the successful restructuring and continuation of operations.
