New products and restructurings cannot compensate for heavy cost burden
German coated fine paper, grass paper and SBS board producer Papierfabrik Scheufelen filed for insolvency proceedings today 30 January 2018. The company, which in 2016 was acquired by a group of investors led by German company Schaeff group after a period of heavy losses, said that it failed to achieve a turnaround due to a massive increase in pulp and chemical costs, although its situation had improved after a number of restructurings and product launches in the paper and packaging market.
Last year Scheufelen posted sales of €83m on a paper production of 104,000 t. Production and sales would continue, the company explained. Operations of Packaging Campus Lenningen is not affected by the company's insolvency.