Fibre Excellence steps up the legal proceedings initiated in mid-April. The pulp producer, which was heard on April 21 by the Toulouse Commercial Court, is requesting the opening of a receivership with continuation of operations. Fibre Excellence operates two production sites in Tarascon (Bouches-du-Rhône) and Saint-Gaudens (Haute-Garonne), and took over Chapelle Darblay in Seine-Maritime, which was shut down. Nearly 700 employees are affected by the outcome of the procedure.
"This move is part of a clear determination to find a solution that will preserve the combined production of merchant pulp and renewable electricity in France, the jobs and the partners who have supported the group during this difficult period." indicates management.
It adds that this request must make it possible to identify "the most appropriate solutions to ensure the company's long-term future in the best possible conditions" .
It comes just a few days after after the declaration of suspension of payments the group was dissatisfied with the French government's response, particularly with regard to the conditions for remunerating the electricity that determines the financial equilibrium of the sites.
The Toulouse Commercial Court is due to hand down its decision on April 27. It will determine the effective opening of the court-supervised receivership and the terms and conditions of continued operation.
