Oberthur Technologies in France said to be in talks about acquiring bankrupt Radece Papir for production of security paper at mill in Radece, Slovenia; local government interested in restarting fine paper machine

LOS ANGELES , June 6, 2012 () – Banknote producer Oberthur Technologies Group in France is said to be discussing with bankrupt Radece Papir DOO the possibility of acquiring its mill in Radece, Slovenia, and restarting security paper production, the municipality and Slovenian trade union Pergam said, EUWID-Paper reported on June 6.

Radece’s PM No. 5 produces security and banknote paper, with a capacity of 9,000 tonnes per year.

In addition, the city of Radece is interested in operating PM No. 4, in order to protect another 80 to 100 of the 250 jobs at the mill. PM No. 4 produces 33,000 tonnes/year of woodfree fine paper.

EUWID-Paper reported that the insolvency administrator’s office confirmed discussions with Oberthur Technologies, which is based in Paris, but that the company declined to provide further comment.

Nor did Oberthur Technologies respond to a direct request for comment.

Radece Papir filed for bankruptcy on April 2 after failing to secure money to restart its operations, EUWID-Paper reported on April 16.

In the first nine months of its fiscal year 2011, the company reported net losses of nearly €6.5 million (US$8.5 million), EUWID-Paper reported on Jan. 3.

The company’s website says the mill makes office, graphic, specialty, bond and protected papers. Both paper machines have been down for more than three months.

The primary source of this article is EUWID-Paper, Gernsbach, Germany, on June 6, 2012.

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