German LWC paper manufacturer Walsum Papier in exclusive talks with new potential buyer, takeover talks with Niederauer Mühle off the table.
The provisional insolvency administrator of Walsum Papier has filed an application with the Duisburg District Court to postpone the opening of regular insolvency period. Regular insolvency proceedings are now to begin on 1 February 2016, according to information from the administrator's office.
In the meantime, the search for a a new potential investor goes on. After Niederauer Mühle broke off talks about buying the magazine paper mill in Walsum, the provisional administrator is back in exclusive talks with a potential investor about selling and keeping open the mill. The goal was to transfer operations no later than 1 February 2016, it is said.
The interested party, is reportedly not an established paper supplier and did not wish to be named.