SAO PAULO (News release) -- Heinzel Group has made the decision to close its subsidiary, Raubling Papier GmbH, in Germany, due to persistently difficult market conditions and challenging economic circumstances. This decision follows comprehensive discussions with the local works council, resulting in a successfully concluded social plan.

More than half of the affected employees have already secured new employment. With the closure process now focused on the sale of assets, Heinzel Group is moving forward with the disposition of machinery and equipment.

Andreas Sailer, CEO of Raubling Papier, stated: "We are encouraged by the rapid transition of many of our employees to new positions and are now concentrating on the sale of Raubling Papier's assets. This includes a range of high-quality machinery and equipment. Interested parties are invited to engage with us promptly as we navigate this phase."

Heinzel Group has four production sites that produce market pulp, packaging paper and magazine paper -- Pöls, Laakirchen and Steyrermühl in Austria; and Kunda, Estonia. The Group also trades in pulp, paper, recycled fiber, and packaging solutions.