Feldmuehle, a white coated label papers and packaging papers manufacturer, has announced that it will strengthen its core competence and concentrate on the production of specialty papers.
Feldmuehle intends to focus more on the production of specialty papers, including wet and alkali-resistant label papers, and flexible packaging papers in the future.
The company had recently filed for insolvency under self-administration with the local court in Pinneberg, Germany.
The unexpected increased energy costs and procurement prices for raw materials affected the company’s current year.
The local court ordered the provisional self-administration, following the management’s application.
Dr. Dietmar Penzlin of Schmidt- Jortzig Petersen Penzlin Insolvenzverwaltung Partnerschaft von Rechtsanwälten mbB, Hamburg, has been selected as provisional administrator.
The provisional administrator will assess the economic situation and supervise the management of the company. The management of the company has power of disposition.
The restructuring of the firm, including self-administration, will help increase the profitability and sustainable competitiveness, said Feldmuehle.
The company will discontinue the production of graphic papers to focus more on the specialty papers segment.
Feldmuehle will shut down the paper machine 2 involved in the production of graphic papers.
The new business will have around 180 staff, and the employees leaving the firm are offered to switch to a transfer company to further qualify for the job market.
Feldmuehle is engaged in the development and manufacturing of white coated label papers and packaging papers for the German and international market.
The firm supplies its products to customers in the label and packaging industry, printing houses, brand owners and converters.
In June this year, the subsidiary of the Berlin-based Beteiligungsgesellschaft Kairos Industries acquired Feldmuehle.
With around 400 employees in Uetersen near Hamburg, Feldmuehle’s annual production capacity is around 250,000 tons of paper.
Feldmuehle Uetersen produces EmbaSet high-gloss paper that can be used for offset, flexographic and rotogravure printing applications.
The acquisition is a part of Kairos’s long-term entrepreneurial commitment and its strategic realignment which began at the end of 2017.