The management of the Fibre Excellence (FE) group submitted a takeover bid to the Toulouse Commercial Court on June 1. The company has been under court-ordered receivership since April 27. "Having received no external offers to date, the company has decided to commit itself both to its employees and to the long-term viability of the wood and paper industry, as well as to ensuring France's sovereignty over a product as essential as pulp. This offer aims to build a sustainable solution for the operations of all its industrial and forestry entities. Convinced of the future of combined pulp and power production in France, management aims to ensure the profitability necessary to preserve the group, which contributes to the local economy, employs nearly 700 people, and generates some 10,000 indirect jobs in the forestry-wood-paper sector,” explains the press release received this afternoon.
François HENIN