{"id":98462,"date":"2026-04-16T05:52:49","date_gmt":"2026-04-16T05:52:49","guid":{"rendered":"https:\/\/www.timberindustrynews.com\/fibre-excellence-files-for-insolvency-as-state-support-comes-too-late\/"},"modified":"2026-04-16T05:52:49","modified_gmt":"2026-04-16T05:52:49","slug":"fibre-excellence-files-for-insolvency-as-state-support-comes-too-late","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/fibre-excellence-files-for-insolvency-as-state-support-comes-too-late\/","title":{"rendered":"Fibre Excellence files for insolvency as state support comes too late"},"content":{"rendered":"<p data-start=\"213\" data-end=\"426\"><strong><!--more--><\/strong>French pulp producer <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Fibre Excellence<\/span><\/span> has filed for insolvency, despite recent state support measures, as cash flow pressures forced the company to seek court protection.<\/p>\n<p data-start=\"428\" data-end=\"629\">The group, which operates pulp mills in Saint-Gaudens in southwestern France and Tarascon in the south, said it had no legal alternative but to declare insolvency with the commercial court of Toulouse.<\/p>\n<p data-start=\"631\" data-end=\"873\">The move follows months of financial strain. The company reported a deficit of around 30 million euros in 2025, while support measures, including a 150 million euro package from the French state, were introduced only in recent months.<\/p>\n<p data-start=\"875\" data-end=\"1139\">A key element of the support plan was a proposed 20% increase in the purchase price of electricity generated by the company, which uses wood residues to produce power alongside pulp. The measure had been presented as essential to restoring financial stability.<\/p>\n<p data-start=\"1141\" data-end=\"1218\">However, the timing of the support proved insufficient to prevent the filing.<\/p>\n<p data-start=\"1220\" data-end=\"1407\">The insolvency process is set to begin formally on April 15. The company is expected to submit its case to the Toulouse commercial court on April 21, with a ruling scheduled for April 27.<\/p>\n<p data-start=\"1409\" data-end=\"1481\">The court will decide between judicial restructuring or liquidation.<\/p>\n<p data-start=\"1483\" data-end=\"1712\">Fibre Excellence employs around 600 workers across its two main industrial sites, with additional staff at its headquarters in Lab\u00e8ge. Extraordinary employee meetings were held across all locations following the announcement.<\/p>\n<p data-start=\"1714\" data-end=\"1953\">Employee representatives said the outcome could depend on how the proposed electricity pricing mechanism is applied. Discussions remain ongoing over whether the 20% increase applies to the full contract or only to part of the energy price.<\/p>\n<p data-start=\"1955\" data-end=\"2192\">The group\u2019s majority shareholder, Indonesian investor <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Jackson Wijaya<\/span><\/span>, is expected to reassess its position once the terms are clarified. A renewed commitment from the shareholder could support a restructuring plan.<\/p>\n<p data-start=\"2194\" data-end=\"2338\">If not, the company may need to seek a buyer. Several industrial groups have reviewed the business but have not submitted binding offers so far.<\/p>\n<p data-start=\"2340\" data-end=\"2511\">Operations continue at both mills. The company said it is still supplying customers and paying for raw materials, including wood, although some payments have been delayed.<\/p>\n<p data-start=\"2513\" data-end=\"2834\">Employees have also put forward an industrial plan aimed at maintaining activity. The proposal includes converting the Saint-Gaudens site to produce specialty paper for hygiene products, while the Tarascon mill would focus on high-yield pulp, potentially in partnership with <span class=\"hover:entity-accent entity-underline inline cursor-pointer align-baseline\"><span class=\"whitespace-normal\">Gascogne Papier<\/span><\/span>.<\/p>\n<p data-start=\"2836\" data-end=\"2980\">Regional authorities in Occitanie have indicated they could consider taking a stake in the company, adding another potential avenue for support.<\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":98463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-98462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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