Timber QCP, a susbidiary of Quantum Capital Partners (QCP), has completed the acquisition of Mitsubishi's paper mill in Flensburg. The mill will operate as a standalone business under the name of Fjord Paper Flensburg.
The specialty mill in Flensburg operates one paper machine and two coating lines. The mill specialises in thermal paper and coated barrier papers for various applications such as event tickets, lotteries, labels, food tags, cash receipts, food packaging and more. QCP puts the mill's production capacity at 35,000 tpy. .
Christian Holland-Moritz of QCP and the current Flensburg plant manager Joachim Küster will serve together as co-Managing Directors of Fjord Paper Flensburg GmbH. The workforce of more than 200 employees will be fully retained under the new ownership, the company announced.