UETERSEN, Germany, March 5, 2020 (Press Release) -Feldmuehle GmbH, leading manufacturer of label and flexible packaging papers, has successfully started the year 2020 on January 2, after completing the insolvency process.
In the first two months, the company exceeded its sales targets. The development of new products - especially based on recycling fibres - is on schedule.
On March 1, 2020, the management decided, based on the adjusted corporate planning for 2020 and the capital strength of the company through the completed financing, to make all payments to the creditors, due by June 30, 2021, prematurely and in full. Payments of several million euros were made on March 2, 2020.
With the payments, Feldmuehle completely fulfilled all of the financial obligations from the restructuring plan about 15 months in advance, thereby replacing all third- party rights.
In consultation with the financial partners, the company has prepared for possible influences on the business due to the Corona virus.
Felmuehle GmbH will actively use any opportunity to expand the business volume.
About Feldmuehle GmbH
Feldmuehle GmbH develops and manufactures high-quality white coated label papers and packaging papers for the German and international market. In these two business areas, the company offers a broad product portfolio for the label and packaging industry, printing houses, brand owners and converters.
Since June 15, 2018, the company is part of a subsidiary of the Berlin-based Beteiligungsgesellschaft Kairos Industries AG. It is continuing the 100-year old tradition of paper production at the Uetersen site.