Groupe Gascogne has signed an agreement with its debtors, which provides for a restructuring of industrial activities, a strengthening of the company's equity capital and a restructuring of debt.
The group's paper division is to become independent of fossil fuels and will therefore build a biomass power plant. In order to increase the division's profitability, Gascogne Paper will also invest in automation technology.
The aim of Gascogne's bag division is to raise its profile as provider of specialty products. The Mimizan mill will get a new line for plastic bags while the two existing lines at the Nantes mill will be updated.