Feldmuehle to focus on specialty papers production in future
December 11, 2018Feldmuehle, 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.
