Following the recent liquidation of French recycled containerboard producer Wizpaper, another French paper manufacturer, Gemdoubs has now also run into financial difficulties.
Gemdoubs mill was placed under court-ordered administration recently by the Besançon Commercial Court. Gemdoubs, located in eastern France, produces some 80,000 tons per year of CCM, and is owned by the Lebanese groups Gemayel and Chaoui.
“Although the paper industry has promising medium-term prospects, bolstered by the European Parliament’s vote on the PPWR in 2024, the sector is facing a very difficult situation that has persisted for almost three years,” says Laurent Grenier, CEO of Gemdoubs, in a press release.
According to him, the sluggish markets have “coincided with rising costs, particularly for energy and waste paper; the price of waste paper, which was once correlated with the selling price, is now decoupled due to waste paper exports”.
Six paper mills have closed in France in the last year, according to him.
“Gemdoubs is also suffering from the extreme market downturn, although the company has been very active during this period, promoting new products and actively working to reduce its costs”, he says.
