Weekly

Spezialpapierfabrik Ober-Schmitten files for insolvency

Konstantin Stoll, 5 September 2024

Despite hopes to grow the business with a new owner, Spezialpapierfabrik Ober-Schmitten had to file for insolvency.

The Friedberg Local Court initiated provisional insolvency proceedings on 4 September. The court appointed Dr Jan Markus Plathner from Frankfurt as the provisional insolvency administrator.

The paper mill is part of Turkish company İŞ Holding A.Ş., forming the "İŞ Paper" division, for which preliminary insolvency proceedings have reportedly also been opened.

The Turkish holding company took over the former Glatfelter plant in the summer of 2023, after Glatfelter had previously announced the closure of the facility.

In spring 2024, İlkem Şahin, Chairman of İŞ Holding, announced plans to build a new, fifth paper machine at the site.

The Ober-Schmitten speciality paper mill has a production capacity of around 10,000 tpy of speciality papers. The portfolio includes glassine and electrotechnical papers for use in the packaging, industrial and electronics segments, for example. The paper mill employs around 200 people.

Source: Euwid