Observation period for Vertaris extended

Source: Vertaris
10 Apr 2012 − 

Vertaris will be under observation for another month. The deadline for offers to take over the deinked pulp manufacturer expires on 17 April.

The commercial court in Grenoble has extended the observation period for Vertaris by another month to 2 May. The insolvency administrator said the company was still in search of a buyer. Several candidates had shown interest in the deinked pulp manufacturer, he said. However, time is getting short as the deadline for the submission of takeover offers expires on 17 April. If no buyer was found, the court would decide at the end of the month whether the observation period would be extended again, the insolvency administrator added.

Vertaris has been in receivership since October 2011. Production is down at the site, which employs some 20 people, since layoffs were implemented at the end of last year. In December 2011, a spokesman for Vertaris had announced that it was planned for the production of deinked pulp to be resumed with new investors.

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