Ruelle-sur-Touvre, France 17 October 2013 -- Two investors took over French Papeterie Alamigeon allowing the company to exit receivership. Production will continue as usual but the new owners aim to further develop the current product portfolio.
French Papeterie Alamigeon has exited receivership and will operate under new management in the future. Pascal Conty, the company's new managing director, told EUWID that he took over the paper manufacturer together with an associate. Their takeover offer had been accepted by the Angoulême commercial court on 10 October.
Papeterie Alamigeon produces virgin fibre-based paper and cardboard, white or coloured, in grammages of 100-400 g/m² for special applications, such as bristol paper. Conty said the company was planning to further develop these sectors, diversify its product portfolio and adapt to customer requirements. For example, the managing director is considering a greater focus on the food packaging sector.
The mill in Ruelle-sur-Touvre in western France has an annual capacity of 13.000 t. Currently, production stands at 7,000 tpy, Conty said, adding that the company was aiming at reaching production of 10,000 tpy within the next two to three years. Papeteries Alamigeon has 30 employees all of whom will remain with the company after the takeover.
Papeteries Alamigeon had been in receivership since 31 January. Conty said that production had continued during the proceedings without any market related downtime.