Springwater Capital subsidiary Dellon France acquires tangible assets of former Vertaris deinked pulp mill in Voreppe, France, plans to restart it in October, selling product to market

LOS ANGELES , March 12, 2014 () – Dellon France, a subsidiary of Springwater Capital LLC, has acquired the tangible assets of the former Vertaris SAS paper and deinked pulp (DIP) mill in Voreppe, France, and plans to restart it as a premium DIP mill in October, selling dried pulp to the market, Euwid reported on March 11.

The capacity at the start would be 140,000 tonnes/year. Plans are to increase the capacity by 2016 to 200,000 tonnes/year, said Springwater Capital spokesperson Michael Kihlgren.

The initial investment is reportedly €15 million-€20 million (US$20.9 million-US$27.8 million), with the additional capacity expected to amount to another €5 million.

Dellon France would also produce cellulose-based insulation material, using fiber of lesser purity, with an output of 20,000 tonnes/year, Kihlgren said.

Private investment firm Springwater Capital has administrative centers in Geneva and Luxembourg, according to the company website.

The primary source of this article is Euwid, Gernsbach, Germany, on March 11, 2014. Click here to view the primary source's full version of the article.

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