After the company’s court-ordered reorganization, employees and management remain fully mobilized to ensure the site’s sustainability.
STENPA, the paper mill located in Stenay (France), announced its placement in receivership on Friday, July 5, 2024, following the filing of a declaration of cessation of payments. The Commercial Court of Bar-le-Duc has granted it a six-month observation period to find a new buyer.
In March 2023, the former owner Ahlstrom announced the sale of the site or its closure if a buyer was not found. As part of an accelerated sale supervised by the Florange law, the company was sold to Accursia Capital, a German investment fund.
Since then, STENPA has been born and has seen the recruitment of new employees, particularly in the sales department. Together, the employees have committed to producing and finding new business opportunities.
Matej Kurent, Managing Director of STENPA, explains: “It may seem surprising that only nine months after the takeover, the company is once again in difficulty. However, the latter is a victim of both the former shareholder Ahlstrom, who disengaged from the site for years, and the new shareholder, who had no industrial project or the means to support the company. We would like to thank our customers, old and new, for their renewed confidence in this ambitious project for the Lorraine region. This global dynamism and the motivation of the employees give us real prospects with a new buyer.”
As STENPA approaches its centenary, management is optimistic about the sustainability of the industrial site. The main concern is to ensure the continuation of manufacturing and to honor all orders, as well as to accelerate the development of new products.
In parallel, the management, in close collaboration with the judicial administrator, will already begin an intensive search to identify potential buyers.
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