Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
Management Side
Youbisheng Green Paper to File for Insolvency
Print

Hamburg, Germany 13 August 2014 -- Recycled containerboard producer Youbisheng Green Paper has announced its intention to file for insolvency. The company, which is headquartered in Germany but operating in China, explained that its CEO Haibo Huang, who had taken up the post only at the beginning of August, had resigned. "After the experiences of the past days he does not feel to be in a position to meet the requirements of the Supervisory Board in the present state", said Youbisheng Green Paper.

In addition, the actual financial and cash situation of the operative Chinese company remained unclear and the liquidity of the German holding company was insufficient, it added. Given the circumstances Youbisheng Green Paper sees itself forced to file for insolvency within the next days, the company said on 7 August.

Youbisheng Green Paper produces recycled linerboard at its plants in Nan'an City in the Chinese province of Fujian. The company, which has around 300 employees, mainly supplies the printing and packaging markets in the Fujian and Guangdong provinces. In 2012, it reportedly produced 150,000 t of linerboard.

 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: