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K&N Paper exits insolvency proceedings

08 Sep 2020 − 

Company is being reverted into a limited liability company.

Schönfelder group has completed the acquisition of insolvent German recycled paper producer Kübler & Niethammer Papierfabrik Kriebstein AG (K&N Paper). The district court of Chemnitz ruled on 4 September 2020 to release the company from the insolvency proceedings following creditors’ approval of the insolvency plan.

Fesco GmbH, a subsidiary of Schönfelder group, acquired K&N Paper in the wake of the ruling. Lifting insolvency proceedings reverted K&N Paper into a limited liability company. Products made at the site will be sold by Fesco Papier GmbH Kriebstein.

Felix Cordier and Holger Hampel have been appointed as new directors of Kübler & Niethammer Papierfabrik Kriebstein GmbH. The two executives are concurrently also directors of Schönfelder Papierfabrik GmbH.

The 130 K&N employees have been absorbed. The company added that two new paper technologists would be added for the next training year.

Kübler & Niethammer Papierfabrik Kriebstein describes itself as the world’s only producer of wet strength and alkali-resistant labels made from recycled paper bearing the German blue angel ecolabel. For the Schönfelder group, Kriebstein is a production site “whose highest standards complement the product palette of Schönfelder Papierfabrik”, a press release from the company said.

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