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Green Elephant takes over Walsum Papier
Green Elephant Industrial Holding is the new name behind the German magazine paper manufacturer Walsum Papier. According to Euwid, the Luxembourg-based investment company has acquired the former Norske Skog mill out of insolvency proceedings.
Green Elephant will reportedly continue with LWC paper production on the 215,000 tpy PM 10 in Walsum. The business will be transferred to the new owner on 19 February.
According to Euwid, the local court in Duisburg had opened insolvency proceedings for Walsum Papier, formerly known as Norske Skog Walsum GmbH, on 15 February 2016.