France-based deinked pulp maker Vertaris to be under observation for another month to May 2, court rules; if a buyer is not found by April 17 deadline, court could again extend observation period, says insolvency administrator

Sandy Yang

LOS ANGELES , April 10, 2012 (Industry Intelligence) –

Insolvent French pulp manufacturer Vertaris will be under observation for another month, until May 2, based on a ruling by the commercial court in Grenoble, France, reported EUWID-Paper on April 10.

If a buyer is not found, the court will consider at the end of the month whether or not to again extend the observation period, said the insolvency administrator.

Several parties have expressed interest in the mill, but not a single bid has been submitted, so far. The deadline to receive bids is April 17, he said.

Vertaris went into receivership in October 2011. The mill was idled at the end of last year. At that time, the company stated that deinked pulp production would restart with new investors, EUWID-Paper reported.

The mill, which is located in Voreppe, near Grenoble in Isère, France, has the capability to make 100% recycled premium white ream paper for office use, as well as 100% recycled pulp and some green building insulation materials from cellulose wadding, according to its website.

The primary source of this article is EUWID-Paper, Gernsbach, Germany, on April 10, 2012.
 

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.