Arjowiggins plans to file petitions to open receivership proceedings for some of its subsidiaries in France

07 Jan 2019 − 

Company has suffered "unprecedented increase of its external costs", despite restructuring of its printing and writing paper business

(Press release) In a highly deteriorated market environment and further to the termination by Fineska BV of the planned acquisition of its Graphic and Creative Papers businesses, Arjowiggins and the French companies Arjowiggins Papers and Arjowiggins Creative Papers plan to petition the Commercial Court of Nanterre to open a preventive Safeguard procedure (Sauvegarde) in their favour to protect their interests. Some of Arjowiggins’ French subsidiaries will file a petition to open Receivership proceedings (Redressement judiciaire). These petitions will be reviewed by the Commercial Court at a hearing on 8 January 2019. The Priplak and Arjobex subsidiaries are unaffected by these procedures.

The Arjowiggins subsidiaries affected by these procedures operate the mills of Bessé-sur-Braye, Le Bourray and Greenfield

EUWID Pulp and Paper keeps busy professionals up-to-date on the latest news from European pulp and paper markets. Find more details in our next edition of our weekly newsletter.

Want to find out more? Check our subscriptions or test EUWID free of charge.

Tags of this news:

previous − Receding prices for all pulp grades

Sequana requests to suspend trading of shares  − next