Walsum Papier to continue with LWC production under new ownership.
Green Elephant Industrial Holding is the new name behind the German magazine paper manufacturer Walsum Papier. The Luxembourg-based investment company has acquired the former Norske Skog mill out of insolvency proceedings.
Green Elephant is said to continue with LWC paper production on the 215,000 tpy PM 10 in Walsum. The business will be transferred to the new owner on 19 February.
The local court in Duisburg had opened insolvency proceedings for Walsum Papier, formerly known as Norske Skog Walsum GmbH, on 15 February 2016. Sebastian Henneke from the Duisburg law firm HRM Henneke Röpke Partnerschaft Rechtsanwälte was appointed as insolvency administrator. He had previously been the preliminary insolvency administrator.
Source : euwid-paper.com