The group is still waiting for the opening of insolvency proceedings which is expected for next January.
Germany's ailing white-lined chipboard and cartons manufacturer Baden Board is reportedly attracting investors' interest despite all the difficulties, especially with high energy prices. A spokesperson for the provisional insolvency administrator's office said that first indicative offers have been received from prospective buyers. The investor process is reportedly going well, the spokesperson said, without commenting on the details.
Meanwhile, the board and packaging group Baden Board is waiting to be admitted to the regular insolvency proceedings by the competent district court in Baden-Baden. The proceedings were going according to plan and the insolvency administration assumed that the court - following provisional administrator's recommendation - would open the proceedings at the beginning of January 2022, the spokesperson said.
Baden Board runs one board machine with geared for an annual production of up to 150,000 tpy of white-lined chipboard. The converting capacity of the group's packaging division Baden Packaging stands at 60,000 tpy. The company produces folding boxes and packaging products for for customers in the food, beverage, and non-food industries.
Back in October, the spokeperson for the administrator's office explained that Baden Board should undergo reorganisation and exit insolvency proceedings through an asset deal process.
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