Papyrus to Close Operations in Croatia, Slovenia
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Papyrus, Gothenburg, Sweden, this week said that it has initiated a process to shut down its paper merchanting operation in Croatia and Slovenia. The units have long been unprofitable despite numerous measures to enhance efficiency and profitability, the company added.
Sorin Buga, VP SEE Cluster, said that "it is a tough decision to take. However, in past years, the economic environment in Croatia and Slovenia has become more and more challenging, strongly impacting the paper market. The decision is based on the fact that Papyrus operations in Croatia and Slovenia are too small-scaled to sustain local presence with profitability".
Papyrus has already begun to support its customers in the region from Papyrus operations in neighboring countries, with an increased range and better product availability.
With net sales of EUR 1,726 million in 2012, Papyrus is a European merchant in paper, facility supplies, and industrial packaging. The company is present in 22 countries across Europe and employs some 2,300 people.
