Lessebo Bruk and Vida Paper need more time to complete the transaction. The purchase price will not be disclosed.
The takeover of the insolvent Swedish pulp and paper manufacturer Vida Paper by the new company Lessebo Bruk, originally scheduled for 1 February, has been postponed until 18 February due to practical issues. According to the insolvency administrator Bertil Stridh, many things still have to be organised and discussed, e.g., with banks, suppliers and customers, and there is a need for more time to complete the ownership change at Vida Paper.
One of the issues under discussion was the reduction of positions at the Lessebo mill, Stridh explained. Some 50 out of the total 230 jobs would be cut. Negotiations with employee representatives have been already completed, he said.
Vida Paper’s Lessebo mill offers an annual capacity of 30,000 of specialty and dissolving pulp and 60,000 t of uncoated woodfree paper. The company filed for bankruptcy on 12 December.
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