The company, which has its headquarters in Vienna, announced this on Monday. “The difficult decision was made to close the subsidiary in Germany due to persistently difficult market conditions and challenging economic circumstances,” Heinzel said in a press release. The plant in Raubling is around two hours’ drive from Braunau in the Innviertel.
A social plan has been drawn up with the works council. More than half of the affected employees have already found new jobs. The company and local management are now concentrating on utilizing the machines and equipment.
According to information on the company website, the company in Raubling in Bavaria recently employed around 175 people, generating revenues of 156.6 million euros and producing 240,000 tons of paper annually.
The paper company employs 2,540 people in the group and recently achieved sales of 2.2 billion euros. Earnings before interest, taxes, depreciation and amortization were 116.5 million euros. The company has around 800 employees in Steyrermühl and Laakirchen.
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