Feldmuehle eliminates Graphic Paper from Grade Mix, shuts down PM 2
Feldmuehle strengthens its core competence and focuses on wet-strength label papers and flexible packaging papers.
Feldmuehle GmbH filed for an application with the competent local court in Pinneberg to open insolvency proceedings under its own administration pursuant to Sections 270, 270 a para. 1 InsO (German Insolvency Act). Following the management’s application, the Pinneberg local court ordered the provisional self administration on the same day (71 IN 238/18).
The restructuring of the company in the context of self-administration provides for all necessary measures to improve the profitability and thus sustainable competitiveness of the company.
The focus is the concentration on the product sector specialty papers, i.e. wet- and alkali-resistant label papers as well as flexible packaging papers. The production of graphic papers is discontinued. In this connection, the paper machine 2 is shut down. The new business model requires staffing, i.e. the workforce is reduced to around 180 employees. The employees leaving the company are offered to switch to a transfer company in order to further qualify for the job market.