Lana Papiers Spéciaux has been given another six-month observation period. The specialty paper manufacturer might be taken over by a Scandinavian company.
The Strasbourg Commercial Court has granted a six-month extension to the observation period for French speciality paper manufacturer Lana Papiers Spéciaux. Patrick Béranger, managing director of the company, reported that the period now ends at the beginning of January 2014. According to the information, a Scandinavian company is currently preparing an offer for taking over the French paper manufacturer that has been in receivership since January this year. The takeover offer is to be presented to the court in September or early October.
Béranger said 25 jobs at the company have been cut as a result of restructuring measures already carried out in the last three months. The number of employees at Lana Papiers Spéciaux currently amounts to 60. As had already been announced earlier on, the company plans to retain Lana’s two paper machines currently in operation. A third PM exists, said Béranger, but it has been standing still for some considerable time. The two operating paper machines have a combined capacity of 15,000 tpy. 60-65% of the machines’ capacity is being utilised flexibly at present as dictated by orders.
Lana Papiers Spéciaux produces security, art, graphic, and technical papers and is part of Concert Verwaltung GmbH, which had acquired the company from Hahnemühle FineArt last year.
