Gascogne Group announces strategic and operational changes at its four divisions

Posted 四月 22, 2014
Apr 22, 2014. /Lesprom Network/. Following its announcement on 14 January 2014, Gascogne announces the entry into a restructuring agreement (conciliation protocol) on 9 April 2014. The conciliation protocol is between Gascogne and certain of its French subsidiaries and the group's bank, tax and social security creditors, EEM (the principal shareholder of Gascogne) and a company called Attis 2 formed by a consortium of investors comprising the Landes region companies Biolandes Technologies and Les Derives Resiniques et Terpeniques (DRT), Bpifrance Participations and Credit Agricole group. This protocol concludes discussions which have been ongoing since August 2013 under the auspices of the French Inter-ministerial Committee on Industrial Restructuring (CIRI), as the company said in the press release received by Lesprom Network.

The industrial plan contemplates strategic and operational changes at the group's four divisions (wood, paper, sacks and laminates):

- Wood

This division includes the companies Forestiere de Gascogne and Gascogne Wood Products both located in France and Gascogne All Wood located in Belgium. The objective is to provide this division with the solid financial foundations necessary to align its long-term positioning with growing and value-added sectors. Investment in a pellets production line is planned to optimize the use of by-products. Investment in a cutting-jointing line will help streamline existing equipment and enable development of higher value-added products. A reduction in the number of industrial sites in the wood division is also envisaged, which will be implemented through site closures and disposals.

- Paper

This division includes the French companies Gascogne Paper (Mimizan plant) and Depland (plant in Haute Vienne, near Limoges). The objective is to reduce dependency on fossil fuels, notably through investment in a biomass boiler and increased operational efficiency through targeted investments in automation technology.

- Sacks

This division includes the Mimizan and Nantes plants in France as well as plants in Germany, Greece and Tunisia. The objective is to strengthen this division reputation as a specialist. This will involve investment in a third plastics line in Mimizan and the renewal or modernization of two lines at the Nantes site.

- Laminates

This division includes the Dax plant in France and the Linnich plant in Germany. Following the investment already carried out in a new machine in Dax, Gascogne will seek to deepen its penetration and accelerate its growth in existing markets.

The Gascogne Group is the leading player in the wood industry in France, operating at every stage of the processing of forest resources, and the only player in France that is totally integrated along the complete wood-paper-processing chain.



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