German-based paper manufacturer Zanders said it will continue to produce high quality specialty papers and boards in the future following its acquisition by Norwegian pulp and paper businessman Terje Haglund and his business team.
Dr. Marc d’Avoine, insolvency administrator at Zanders, announced the successful conclusion of the negotiations.
d’Avoine said: “We are pleased that the acquisition will be made by paper professionals who are already very successful in the industry. The continuation of paper production at Zanders is thus assured. All know-how carriers remain on board.”
According to the insolvency administrator, Terje Haglund and his team will soon introduce themselves to the public. The takeover by a partner already working in paper production would in any case be the best possible solution for Zanders.
Marc added: “Thanks to the know-how on both sides, there are very good prerequisites for securing the Bergisch Gladbach location for the long term.”
Business operations will continue with around 300 employees, around 150 employees will have to leave the company. For those affected, an interim employment society will make the consequences socially acceptable by continuing to pay a large part of the salary for seven months, as well as job search assistance.
In addition, the works council and especially the city of Bergisch Gladbach offer a lot of help, e.g. through a job market where local companies can present their vacancies and personal conversations are possible.
Source: Company Press Release