The sale of Inapa's subsidiaries is a major step in the group's recovery effort. In August 2024, Inapa, in dire financial straits, sold Inapa Packaging SAS to Next Pack SAS for 20 million euros. This transfer also included the packaging subsidiaries SEMAQ and Embaltec SAS. At the same time, the sale of Inapa France to Japan Pulp and Paper (JPP) for 25 million euros was approved, consolidating a total cash inflow of 45 million euros.
Although the sale of Inapa's French and packaging assets represents a breath of fresh air, the future of its other subsidiaries in Germany, Spain, Belgium and Turkey remains uncertain. No concrete solution has yet been found for these entities, raising fears of possible job cuts, particularly in markets already weakened by international competition and shrinking demand for paper products. These funds are essential to reduce Inapa's debt, which stood at 208.5 million euros at the time the insolvency proceedings were announced.
Read : Inapa's insolvency: partial takeovers planned, what future for the paper industry?
Inapa's financial deterioration stems from the difficulties encountered by its German subsidiary, which had a domino effect on the entire Group. Founded in 1965, Inapa employed around 1,500 people in ten countries. In recent years, however, the company has accumulated substantial losses, including 8 million euros in 2023. These figures underline a deep crisis in the sector, exacerbated by the transition to digital technology and growing environmental expectations.
