Europe & Central Asia

Poland's Arctic Paper to close German mill

14 December, 2020

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The closure is a part of the company's profit improvement program

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Poland-based Arctic Paper has finalized the closure of the paper mill in Mochenwangen, Germany. The closure is a part of the company's profit improvement program for 2015/2016.

The closure of the mill is likely to be implemented in December 2015. However, Arctic Paper will continue with the on-going negotiations with the potential buyers for its mill in Mochenwangen.

The costs of closure are expected to be around EUR 9.3 million (approximately PLN 39 million) and the company will include these costs in the fourth quarter results.

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