Will Fibre Excellence papermaker Tarascon avoid liquidation?? Answer on January 26th. The company based in Tarascon in the Bouches-du-Rhône region of France has been placed in protective liquidation by the Commercial Court of Toulouse on Tuesday, January 12, while new elements are examined, reports the regional daily Midi Libre.
These new elements, which made it possible to avoid the compulsory liquidation, are a State contribution of EUR 1,6 million and the arrival of new customers for unbleached pulp in Asia and Europe, the newspaper.
The court will rule on the future of the company by January 26. Two scenarios are possible: the observation period is extended, or the company is declared bankrupt.
The Fibre Excellence pulp mill was placed in receivership on October 8. The plant, which has 280 employees and produces 270?000 tons of pulp per year, plays an important role for the region with a direct impact on other players in the wood industry. It belongs to the Canadian company Paper Excellence, itself owned by Jackson Widjaja, whose family runs Asia Pulp and Paper, the Indonesian giant of the global paper industry.
In September, a social movement broke out at the plant, with employees denouncing the conditions of the survival plan put in place by management to turn the site around.
The Seveso 2 classified plant was also at the heart of a lawsuit for air pollution. For several years, local residents and environmental associations have been denouncing the pollution generated by the plant. The operator was tried at the beginning of January in a criminal court in Tarascon. The public prosecutor only asked for a fine of 50?000 euros, due to the fragility of the company.
