Insolvency proceedings in self-administration opened
On January 28, the management of German papermaker Feldmuehle and the works council signed a reconciliation of interests and social plan as part of the restructuring plan. The majority of the employees accepted the company's offer to switch to a transfer company on 1 February in order to further qualify for the job market, the company said. Feldmuehle is to continue its business operations from 1 February with around 200 employees.
Also on 28 January, the insolvency proceedings over the assets of Feldmuehle were opened at the Pinneberg District Court in accordance with the management's proposal. The process continues to be self-administered. The management is working on an insolvency plan, which should be implemented by summer 2019.
This is an excerpt of our report on Feldmuehle. Find the full article in EUWID Pulp and Paper issue no 06/2019, which will be available to our e-paper and print subscribers as of 6 February.