Lecta plans to sell its Condat mill in France, which produces release liners for labels
“Condat paper mill will file for protection with the Commercial Court in Bordeaux on October 22 to facilitate the search for potential buyers, while safeguarding jobs”, Lecta writes in a press release.
About 200 employees will be concerned by the decision.
Since 2019, Lecta has invested “heavily” to modernise the site with a state-of-the-art glassine paper line and a new biomass boiler. Despite these major upgrades, successive market crises have significantly impacted Condat’s financial stability, according to Lecta.
“Through this legal procedure, Condat aims to temporarily freeze its debts—which are held mostly by the Group —and work with the Court to identify solutions that ensure business continuity and preserve employment”.
Production at the Condat site will continue as normal during the procedure, maintaining the quality of service to its customers and safeguarding jobs.
