The German paper manufacturer Feldmuehle GmbH has filed for insolvency proceedings. In a press statement, the company writes:
“Feldmuehle GmbH, has been adversely and unforeseeably affected this current year due to the difficult situation in the energy markets, by unexpected increased energy costs and procurement prices for raw materials.
During the current year, management has implemented extensive measures to increase operating profitability. Despite these efforts, the latently rising variable costs could not be offset by implemented price increases, partly due to the company’s lower-than-expected revenues.”
“Considering these circumstances, the management has decided to carry out the necessary reorganization/restructuring…
