The Commercial Court of Nanterre has placed the Jouy-sur-Morin mill, in France, in legal liquidation. Based in the South of Paris, this paper mill was acquired by the Swiss Private Equity company Blue Motion Technologies Holding at the beginning of 2018. Some 220 people were employed in this facility specialised in banknote paper. Activities on the site will be stopped next January 30.
As already published on “PaperFirst”, in 2017, Arjowiggins Security entered into a binding agreement with Oberthur Fiduciaire concerning the sale of its subsidiary, Arjowiggins Security BV, covering the VHP mill in Apeldoorn (the Netherlands) and the intellectual property rights related to the production of banknote paper, for a gross amount of €22 million (plus an earn-out). This transaction was completed on 31 July 2017.
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