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Fibre Excellence Employees Told of Possible Liquidation at Saint-Gaudens Mill

Employees at Fibre Excellence’s Saint-Gaudens pulp mill in France were told on October 22 that judicial liquidation was a prospect, according to a report citing an unnamed internal source. The report said no liquidation had been officially confirmed and that no court decision was known to the source. It said the prospect followed the failure of a Portuguese industrial group identified as Ghost to submit a takeover offer by the deadline, although the group had reportedly not abandoned its proposed acquisition. The article said about 233 people worked at Saint-Gaudens at the end of September and reported that layoffs could take place by November 15, while noting that the timetable remained uncertain. It also reported that forestry subsidiary SEBSO, which it said employs 70 to 80 people, could be affected.…

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Fibre Excellence Saint-Gaudens Mill Faces Reported Liquidation as Ghost Considers Takeover

Fibre Excellence employees at the Saint-Gaudens pulp mill in France have reportedly been told that the company is heading toward judicial liquidation. Layoffs could occur by November 15, according to the supplied report. The mill employed about 233 people at the end of September, and the wider crisis is also reported to affect forestry subsidiary SEBSO and group entities in Toulouse, with more than 340 jobs directly affected.…