Papyrus has initiated the process to close down its paper merchanting operation in Croatia and Slovenia. The operations of the units have long been unprofitable despite numerous measures to enhance efficiency and profitability, as the company said in the press release received by Lesprom Network.
Sorin Buga, VP SEE Cluster, says: "It is a tough decision to take. However, in the last years the economic environment in Croatia and Slovenia has become more and more challenging, strongly impacting the paper market. The decision is based on the fact that Papyrus operations in Croatia and Slovenia are too small-scaled to sustain local presence with profitability”.
Papyrus is a leading European merchant in paper, facility supplies and industrial packaging. The company is currently present in 22 countries across Europe and employs some 2,300 people.
