Operations at Prado Karton in Portugal might restart soon. The company is to be sold to a yet unnamed buyer and production, which has been standing still since the end of 2015, is expected to restart within the next month.
Portuguese board producer Prado Karton is looking for a new owner following the insolvency of its previous shareholder, the private investment firm Finpro. The sales process will be concluded soon, a company spokesperson said, adding that talks with a potential Portuguese buyer were well advanced and should lead to a takeover in the next few weeks. Prado Karton declined to inform whether the interested party was another financial firm or from the paper industry.
Operations have been idled since December 2015 owing to the financial difficulties of the previous investor, the company spokesman told EUWID. Prado hopes that its machine can restart within the next three to four weeks once a new ownership structure is in place.
Prado Karton makes GC, GD, GT and GK board in grammages ranging from 200 to 550 g/m², as well as graphic board. The company operates a machine for packaging board with a capacity of more than 40,000 tpy in Tomar. The mill employs nearly 100 people. Furthermore, Prado Karton operates a factory for graphic board in Lousã. Prado Cartolinas da Lousã can produce around 25,000 tpy of graphic board.