Dej, Romania 26 November 2014 -- Romanian businessman Stefan Vuza is planning to sell local pulp and paper plant Somes Dej. The production facility, which is to be sold through direct negotiation, has a starting price of some €7.9 million excluding value-added tax (VAT).
As a result of its financial woes, the manufacturer entered into insolvency in January 2013, and filed for bankruptcy in late 2013, reports local news site Romania-Insider.com. The negotiation on the potential acquisition will be handled by the firm's judicial administrator, Transylvania Insolvency House. The firm's assets in Romania are currently frozen.
The production facility has an output capacity of some 50,000 tonnes of paper per year, and an annual capacity of about 70,000 tonnes of pulp. The company exported a significant share of its output, and its main export markets included Italy, Germany, Hungary, the Netherlands, France and Poland, according to data released by Somes Dej.
Somes Dej is a subsidiary of Romania's industrial conglomerate SCR Group. The company says its production facility is ISO 9001 and ISO 14001 certified.
Before filing for insolvency, Somes Dej was the largest producer of packing paper in the Romanian market, and its product range included packing intended for food and industrial products, corrugated board, bags, tapes, as well as various other products.
The production facility is located in Dej, in Romania's north-western part, about 60 km from the city of Cluj-Napoca.