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Ecocis in Receivership, Production Down

Voreppe, France 20 October 2016 -- After years of standstill, production of deinked pulp at Ecocis in France was started in June. Now, production is down again. The company is in receivership.

French deinked pulp manufacturer Ecocis is in receivership. A person close to Springwater Capital, the majority shareholder of Ecocis, said the company had applied for receivership and that a six-month observation period had been set.

Production at the mill in Voreppe is currently down. It had been running for several weeks only. After some delays, the site, which had been standing still since 2012, was put into operation in June this year, with production being halted again at the end of August, the spokesperson informed.

According to the contact and information from the market, the measure is due to a financial problem and disagreements between the two shareholders Springwater Capital (55%) and state-owned bank BPI France (45%). On the commercial side, things were going well, said the spokesperson. The viability of the project is not questioned. Springwater Capital is optimistic that the problem can be solved quickly so as to allow production to resume again soon.

Ecocis has the capacity to produce 140,000 tpy of deinked pulp.


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