Posts tagged: M-real

M-real to shut down Alizay – Buyers not found

Catherine Cresswell
 Oct 26, 2011

On October 18th 2011, M-real announced that the ailing Alizay paper mill in France will be shut down. The mill is running currently at EUR 3million (US$ 4.2 million) a month losses even after major efforts to turn this around. Satisfactory offers for the mill have also not been found despite the mill approaching more than 80 potential companies over the past four months and eighteen showing some interest. Two companies, reputedly Thailand’s Double A and the French turnaround company in’active, put forward offers, but these have been declined as they do not fulfil M-real’s criteria to ensure that the mill would continue to run rather than ultimately be shut down. M-real’s concern was to ensure that any buyer would be able to take responsibility for its 330 employees and the business risks. However, as a result the company now begins the consultation process for the shut down. Employees are reported to have reacted angrily and taken action to immediately halt production. Read more »

M-real Moves to Cut Paper Losses and Refocus on Packaging

Other Posts
 Jun 7, 2011

On 4th May 2011, M-real announced plans to make major divestments in its European fine paper business in order to cut heavy financial losses and continue the refocusing of its business towards a packaging board company. Read more »

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