The insolvent company has been grappling through raw material supply problems
March 17, 2016
Germany’s insolvent LWC manufacturer Papierfabrik Walsum has resumed production on PM 10 after four days of downtime. Production stood idle since Sunday due to raw materials supply problems.
The Luxembourg-based investor Green Elephant Industrial Holdings took over the assets of the former Norske Skog paper mill in Walsum mill in February with the intention to continue LWC paper production on the 215,000 tpy PM 10. However, on 15 March, Papierfabrik Walsum has filed for insolvency again, due to outstanding payments to raw material suppliers and employees.
The Court of Duisburg has opened preliminary insolvency upon the ailing paper company. Andreas Röpke from the Duisburg law firm HRM Henneke Röpke Partnerschaft Rechtsanwälte was appointed as insolvency administrator.
According to company sources, there have been no disruption in paper deliveries to customers in the last four to five days and production operations on PM 10 are to be continued.