French paper manufacturer Papeterie des Chatelles exits receivership; 45,000 tonnes/year office paper mill in Raon l'Etape, France, to maintain same production capacity, number of employees, but product mix to include more recovered paper

LOS ANGELES , January 7, 2013 () –

Papeterie des Chatelles SA will continue to operate its Raon l’Etape, France, paper mill with the same production capacity but under a new legal entity after the uncoated woodfree paper manufacturer exited receivership, Euwid reported Jan. 4.

 

The company will alter the mix of its portfolio by including more recycled paper, but it will keep the 70 jobs as part of the new simplified joint-stock company now called Papeterie des Chatelles SAS.

 

Moreover, the company wants to boost the 45,000 tonnes/year paper machine’s capacity utilization rate, which it is currently 75%, Euwid reported. According to the company’s managing director Frédéric Marquis, paper production at the company had not stopped throughout the process to exit receivership.

 

Euwid reported that several entrepreneurs in the area took part in acquiring the new company, with one of the shareholders ensuring raw material supply because this individual is active in the collection and recycling of recovered paper.

 

The French company filed for bankruptcy on June 30, 2011, and was placed in receivership on July 5, 2011, Industry Intelligence reported July 15, 2011, based on an article from Euwid.

 

Papeterie des Chatelles had received several observation period extensions, and in that time, the company had taken steps to limit production and improve production processes to boost profitability.

 

French commercial court of Épinal approved the receivership exit, effective Jan. 1, 2013, Euwid reported.

 
The primary source of this article is Euwid, Gernsbach, Germany, on Jan. 4, 2013.

* 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.