Feldmuehle GmbH is to focus on the production of specialty papers in the future, ie wet and alkali resistant label papers as well as flexible packaging papers.
On November 19, 2018, Feldmuehle GmbH filed for an application with the competent local court in Pinneberg to open insolvency proceedings under its own administration. Following the management's application, the Pinneberg local court ordered the provisional self administration on the same day.
The restructuring of the company in the context of self-administration provides for all necessary measures to improve the profitability and thus sustainable competitiveness of the company.
The focus is the concentration on specialty papers, whilst production of graphic papers is discontinued and papermachine 2 has been shut down. The new business model means that the workforce is reduced to around 180 employees.
The management presented the overall concept on December 7, 2018, as part of an employee meeting with simultaneous commencement of the negotiation of the social plan with the works council.