The Strasbourg Commercial Court has extended by six months, until December 2, the receivership period of Cenpa, a French paper mill owned by the German fund Accursia Capital and located in Schweighouse-sur-Moder (Bas-Rhin, northeastern France).
“Our cash flow and forecast balance sheet have improved,” said Dimitri Mager, plant manager. “Some of our customers have made long-term volume and price commitments.”
However, PM5, which produces core board for industrial use, is expected to shut down by the end of June due to increased competition and a generally sluggish market. A restructuring has been announced, and job cuts are planned among the 93 people employed at the site. However, activity will be maintained at PM4, which can produce some 24,000 t/year of core board for the tissue and food markets, sectors where demand is more robust. The next hearing at the Commercial Court is scheduled next July 21.
V. L.
Photo: Cenpa
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