New Investor Signals Intent to Take over Insolvent Polish Mill ZZP Solali

Polish paper machinery firm Krystian PPH has signed a letter of intent to acquire the insolvent Polish paper mill Żywieckie Zakłady Papiernicze Solali (ZZP Solali), and production at the idled plant could re-start as soon as the end of July, according to local press reports.

The mill, located in southwestern Poland, houses two paper machines, PM 4 and PM 5, can produce approximately 12,000 tonnes/yr of tissue and specialty paper grades, according to RISI’s Asset Database. The mill entered into liquidation in autumn last year and was subsequently declared bankrupt this spring during a search for new investors.

Reports in the Polish press cited ZZP Solali’s liquidator Roman Wysocki as saying that following the signing of the letter of intent to purchase, steps were now being taken to prepare the mill for sale. Discussions were underway with gas and power utilities to restore service to the facility, he said.

According to Wysocki, PM 4 could be re-started by the end of July, with PM 5’s re-start following at an unspecified later date.

Krystian PPH, based in Lublin, is a supplier of paper industry machinery and technology. The firm was not immediately available for comment.