Employees Fail to Takeover UPM’s Docelles Mill in France
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UPM told EUWID that a meeting with employees was held March 5 and that the parties did not come to an agreement on the transaction price. There are currently no options for the mill. "UPM is still open to sell the mill but there is no competitive offer so far," a company spokesman said in the article.
A spokesman for the CGT trade union said that the price and the conditions for the takeover were set too high and presumed that UPM was actually not willing to sell the mill. The union was continuing with its efforts to find a solution but there was little hope, he added. The sales price proposed by UPM was not disclosed, EUWID reported. .
The company shut down the mill in January of this year and worked out a social plan that was approved by the authorities in mid-January. Some 161 employees are affected by the measure.
The Docelles mill, located in Eastern France, produced woodfree uncoated paper with a capacity of 160,000 metric tpy.
