11.03.24
Here's your weekly recap—the most-viewed news stories on our site for the week ended Nov. 2, 2024.
Kelheim Fibers GmbH has applied for protective shield proceedings (bankruptcy protection) at the Regensburg District Court in Germany. The court ruling followed the application and thus paved the way for further implementation of the plan renovation course.
The company had already developed a restructuring plan with its financiers in June and its home city Kelheim also made a significant contribution with the acquisition of the VfL property from Kelheim Fibers GmbH.
Despite these measures, the economic situation worsened, primarily due to a massive price decline as Asian suppliers significantly reduced prices for viscose fibers, making it impossible for Kelheim Fibers to be profitable in the long term.
Meanwhile, International Paper announced the decision to review strategic options for its global cellulose fibers (GCF) business. The decision to explore alternatives for the GCF business is consistent with the company's strategy to focus on sustainable packaging solutions.
IP's GCF business creates safe, high-quality absorbent pulp for a wide range of applications like feminine care, incontinence and other personal care products that promote health and wellness. In addition, its specialty pulp serves as a sustainable raw material used in textiles, construction materials, paints, coatings and more. The GCF business generated $2.9 billion in revenue in 2023 and has operations in three countries, with eight mills and two converting facilities.
Here are our top 3 most-viewed stories from the past week:
1. Kelheim Files for Bankruptcy Protection
2. International Paper Exploring Options for Global Cellulose Fibers Business
3. Soft N Dry Launches econoLiite Core Technology
Kelheim Fibers GmbH has applied for protective shield proceedings (bankruptcy protection) at the Regensburg District Court in Germany. The court ruling followed the application and thus paved the way for further implementation of the plan renovation course.
The company had already developed a restructuring plan with its financiers in June and its home city Kelheim also made a significant contribution with the acquisition of the VfL property from Kelheim Fibers GmbH.
Despite these measures, the economic situation worsened, primarily due to a massive price decline as Asian suppliers significantly reduced prices for viscose fibers, making it impossible for Kelheim Fibers to be profitable in the long term.
Meanwhile, International Paper announced the decision to review strategic options for its global cellulose fibers (GCF) business. The decision to explore alternatives for the GCF business is consistent with the company's strategy to focus on sustainable packaging solutions.
IP's GCF business creates safe, high-quality absorbent pulp for a wide range of applications like feminine care, incontinence and other personal care products that promote health and wellness. In addition, its specialty pulp serves as a sustainable raw material used in textiles, construction materials, paints, coatings and more. The GCF business generated $2.9 billion in revenue in 2023 and has operations in three countries, with eight mills and two converting facilities.
Here are our top 3 most-viewed stories from the past week:
1. Kelheim Files for Bankruptcy Protection
2. International Paper Exploring Options for Global Cellulose Fibers Business
3. Soft N Dry Launches econoLiite Core Technology
