Company has suffered "unprecedented increase of its external costs", despite restructuring of its printing and writing paper business
(Press release) In a highly deteriorated market environment and further to the termination by Fineska BV of the planned acquisition of its Graphic and Creative Papers businesses, Arjowiggins and the French companies Arjowiggins Papers and Arjowiggins Creative Papers plan to petition the Commercial Court of Nanterre to open a preventive Safeguard procedure (Sauvegarde) in their favour to protect their interests. Some of Arjowiggins’ French subsidiaries will file a petition to open Receivership proceedings (Redressement judiciaire). These petitions will be reviewed by the Commercial Court at a hearing on 8 January 2019. The Priplak and Arjobex subsidiaries are unaffected by these procedures.
The Arjowiggins subsidiaries affected by these procedures operate the mills of Bessé-sur-Braye, Le Bourray and Greenfield
EUWID Pulp and Paper keeps busy professionals up-to-date on the latest news from European pulp and paper markets. Find more details in our next edition of our weekly newsletter.