“Before the change, the hangar was full”“Explains Olivier Thuilliez, an employee of the company, pointing to the vast space of several dozen square metres, filled with paper pulp, which is used to produce coated technical papers resistant to humidity, oily liquids and even flames. It is now empty.
The Stenay paper mill, which employs 124 people in the north of the Meuse, has been suspended from the decisions of the Bar-le-Duc commercial court, which was declared in receivership on 5 July. “There is a hearing on September 6. If there is a disaster in the accounts, they can liquidate the factory”regrets Alain Magisson, secretary of the Social and Economic Committee (CSE) and CGT delegate at the company.
Magisson seems even more disillusioned that history seems to be repeating itself: a year ago, the factory was saved from closure. Owner of the stationery store since 1997, the Finnish group Ahlstrom announced in March 2023 its plan to close, unless a new buyer was found. After seven months of negotiations, the German investment fund Accursia Capital became the owner and saved the factory, renamed Stenpa. [contraction de Stenay et de « papers »].
“They sold dreams”
On October 2, 2023, Accursia published a press release, projecting “several specific investments to support the development of Stenpa”Alain Magisson laughs yellowly: “They sold dreams to everyone. They never put any money into it.” In a letter to Stenpa’s CSE on 6 August, Accursia admits not having followed its initial business plan, but absolves itself of any responsibility for the restart of the factory, citing: “Ahlstrom’s lies and flaws”WHO “I knew very well that the business plan was unviable”The accused group denies these accusations: “Ahlstrom has continued to work closely and transparently with Stenpa.”
The new director Matej Kurent, appointed by Accursia, arrives at Stenay in October 2023 and discovers “a completely empty order book”. Alerted about the closure plan, the factory’s customers, he said, “overstock” Following Ahlstrom’s advice, without orders after these advance purchases, the stationery store slows down and dries up its cash flow. Stenpa still manages to find new customers. But it is no longer enough. “It is paradoxical: now that we have new clients, we do not have the means to buy raw materials to produce more”Alain Magisson said: “From now on, employees’ eyes are on a potential buyer who would save their jobs, as Accursia did a year ago.
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