Insolvent Idempapers might restart operations

18 July 2017

Idempapers has been declared bankrupt in early June. An interested investor had withdrawn his takeover offer. Now, new potential investors have emerged.

There is still hope for insolvent Begian specialty paper producer Idempapers. The Belgian trade union CGSLB said that new investors had emerged who were interested in participating in a project to restart operations. Yet, the project still needs further investors. Idempaper's former CEO does not think the project is likely to succeed.

Plans include the restart of one of the two machines at the site in Virginal-Samme,says CGSLB. The mill used to produce specialty papers such as carbonless paper, label paper and poster paper.

Idempapers has been insolvent since early June this year, after Avery Dennison had withdrawn his offer to acquire the company.