A new deadline has been granted to continue pulp production operations at the Fibre Excellence Saint-Gaudens plant in Southern France. According to Agence France-Presse reports quoted by La Tribune and L'Usine Nouvelle, the Toulouse Commercial Court granted additional time on August 24 to allow the takeover bid submitted that day to be refined and improved by September 3. The court will then review the offer five days later, on September 8.
The takeover bid was submitted by the Occitanie region’s Regional Agency for Strategic Investments (Aris). This offer is based "on a significantly strengthened industrial and financial plan representing €90 million in investments."
"We have come halfway and demonstrated that there are industrial players ready to believe in the future of Fibre Excellence," explained Carole Delga, President of the region. "Our ambition is clear: to keep the plant running and bolster pulp production in France (...) while preparing for the site's future through the diversification of activities. We have several industrial players at the table, including the company Soprema, who wish to take part in this new venture."
If the court approves the plan, the 270 jobs at the site would be preserved.
Furthermore, according to Cédric Caubère, General Secretary of the CGT Haute-Garonne union, "a major European group" would take over the pulp operations, while Soprema plans to develop other activities at the site. As reported by the daily newspaper La Tribune on August 6, Soprema has reportedly partnered with the Belgian paper company VPK Group for this bid, though this detail has not been confirmed by the region, pending upcoming discussions. Indeed, the core of this takeover plan lies in finding an industrial paper producer capable of operating the site.
It is worth recalling that on July 27, the Toulouse Commercial Court rejected the bid to acquire the entire group, submitted by financier Matthieu Pigasse with the backing of the Occitanie and Provence-Alpes-Côte d’Azur regions. The Tarascon plant was placed into court-ordered liquidation on that date. The Saint-Gaudens site, however, was granted an extension. Nevertheless, if no offer is accepted following the September 8 hearing, the plant would be placed into court-ordered liquidation on September 15.
V.L.