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Decision on Arjowiggins French mills postponed to 26 March

20 Mar 2019 − 

Focus is on bid for all of the company's three mills in France

The decision of the commercial court in Nanterre, France, on the takeover bids for three plants of insolvent paper manufacturer Arjowiggins in France, expected today, has been postponed. According to trade union representatives, this is intended to give Lessebo AB, one of the bidders, time to improve their bid.

According to local trade unions and the regional press, the greatest hopes are pinned on the offer of Norwegian businessman Terje Haglund and his company Lessebo, as it includes all three of Arjowiggins' eligible plants in France. However, as was further said, it is still a question of the viability of the offer's entrepreneurial concept and above all of financing. The trade union side mentions, among other things, that Lessebo is demanding financial participation or help from the public sector, allegedly half of all the funds needed

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