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Virginal Paper in Belgium is bankrupt again

21 May 2019 − 

About one year ago, Terje Haglund - together with a group of investors - acquired the former Idempapers specialty paper mill in Belgium. Now, Virginal Paper is insolvent again.

Less than one year after resuming operations, Belgian specialty paper producer Virginal Paper has filed for bankruptcy. The official journal of the government of the Belgian region of Wallonia announced that the bankruptcy proceedings had been opened on 6 May. Apparently, the company did not have sufficient cash to continue production.

Virginal Paper produces specialty papers, including for labels and flexible packaging. It currently operates one paper machine which has a capacity of 120,000 tpy.

Virginal Paper – previously known under the name of Idempapers – was acquired last June by a group of Scandinavian private investors, led by Terje Haglund, in cooperation with the government of the Wallonia region. Mr Haglund has meanwhile acquired another specialty paper manufacturer in Germany.

Find the full article on Virginal Paper's bankruptcy in EUWID Pulp and Paper issue no 21/2019, which will be available to our e-paper and print subscribers as of 22 May.

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