The company took prompt action to stabilize its business operations and make them fit for the future. Following successful negotiations with customers and banks, business operations can continue as planned in the opened proceedings.

“The decision to initiate the protective shield procedure was necessary in order to react to the considerable challenges, in particular the sharp rise in energy prices and the increasing competitive pressure from low-priced products from Asia. We have set the course for a sustainable recovery and are confident that we can secure the future of the company with the measures we have introduced,” explains the management of Kelheim Fibres.

To secure the restructuring, Roland Berger is conducting an M&A process aimed at finding suitable investors to ensure the long-term future of the company. At the same time, the company is focusing on its most profitable core products to strengthen its competitiveness and is implementing the operational restructuring measures necessary to achieve this. The process also requires adjustments that will result in job cuts. The company is working closely with the works council to implement these changes in the most socially responsible way possible. To this end, a transfer company is to be set up.

“We are confident that with these steps and the support of all parties involved, we will find a viable solution for Kelheim Fibres,” the management concluded.