Papeterie de Veuze to be closed permanently, decision on Papeterie de Saint-Michel pending

French Papeterie de Veuze will definitively terminate operations at its mill in Magnac-sur-Touvre in the next days. Thibaut de Lisle, Interim Manager of the company, said that the company’s hopes for a take-over by Open Gate Capital did not materialise as the potential buyer withdrew his offer this week. Liquidation of the mill including the layoff of around 90 employees will start on 15 March. Papeterie de Veuze had a capacity of around 115.000 tpy of testliner. Papeterie de Saint-Michel is still waiting for a decision to be made on its future. Mr De Lisle confirmed that Emballage Gatineau Thiollet was interested in acquiring the mill.