The Schleswig-Holstein paper company Feldmuehle Uetersen GmbH will be transferred to a subsidiary of the Berlin-based Beteiligungsgesellschaft Kairos Industries AG will be continued in full.
As a result of the refurbishment 400 and thus more than 95% of 420 jobs were preserved. The insolvency administrator and restructuring expert Dr. Tjark Thies from the Hamburg law firm Reimer Rechtsanwälte had concluded an acquisition agreement with Kairos in May 2018.
"The successful completion of this refurbishment is largely thanks to the dedication, flexibility and responsiveness of the Feldmuehle employees," says Thies. At the end of May 2018, the Feldmuehle Works Council approved a 10% salary waiver for employees until 31 December 2019, thereby creating an essential prerequisite for the financing of the acquisition.
In addition to the restructuring contribution of the employees, the trustworthy cooperation with Ruppert Fux Landmann GmbH, Ernst & Young GmbH and the GÖRG Partnerschaft von Rechtsanwälte mbB also contributed significantly to the successful takeover by Kairos.
The acquisition of Feldmuehle Uetersen GmbH is aimed at a long-term entrepreneurial commitment; and the strategic successful realignment of the company, which began at the end of 2017, will be continued.
Founded in 1904, the traditional company Feldmuehle produces around 250,000 tons of paper annually and filed for insolvency on 24 January 2018, at the district court of Pinneberg.
