Insolvent paper mill Feldmuehle closes

The manufacturer of label papers states in a press release that it was confident until the very end that it would be able to turn the business around, explaining: “Unfortunately, due to unplanned market events, the inconclusive discussion on industrial electricity prices, and ever-increasing new bureaucratic hurdles, we have come to the conclusion that we are no longer able to continue production at our Uetersen site in a sufficiently competitive manner in the long term – it is not economically viable to maintain operations.”

The announcement continues: “It seems that there is no desire for energy-intensive industry to remain in Germany. We have therefore ceased paper production and will equip, sell, and ship the paper produced in the coming weeks.”

The company recently announced that it would end the insolvency proceedings under its own administration, which have been ongoing since August 1, at the end of this year.