Soprema consortium bids to rescue Saint-Gaudens mill by September
Soprema bids to acquire Saint-Gaudens mill with regional backing and August 24 offer deadline.
Event / Economy
Fibre Excellence Bankruptcy
Indonesia-backed paper pulp group Fibre Excellence entered judicial reorganization in April 2026 following operating losses. The Tarascon plant was liquidated in July 2026, while the Saint-Gaudens facility faced potential closure until a takeover bid emerged from Soprema, VPK Group, and Engie with regional government support.
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2026-08-14 to 2026-11-11 · UTC publication dates
Coverage begins 29 Jul, 11:19 UTC
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What happened
Saint-Gaudens paper plant granted reprieve until September 15, 2026
On July 30, 2026, the Toulouse commercial court granted a reprieve to the Fibre Excellence paper pulp plant in Saint-Gaudens, Haute-Garonne, postponing liquidation until September 15, 2026. The court received an indicative preliminary takeover offer from an industrialist, accompanied by a 2 million euro deposit as potential financing for the investment. Liquidation will only proceed on September 15 if no validated takeover offer is accepted.
August 24, 2026 deadline set for takeover offer submissions on Saint-Gaudens plant
The Toulouse commercial court established August 24, 2026 as the final deadline for submission of formalized takeover offers for the Saint-Gaudens Fibre Excellence plant. Any interested company may submit a proposal. The court will examine all offers in closed session on September 8, 2026, with the decision communicated in the following days.
Occitanie region and Haute-Garonne department commit 5 million euros each to Saint-Gaudens plant rescue
The Occitanie regional government and Haute-Garonne department each committed 5 million euros to support the Soprema consortium's takeover plan for the Saint-Gaudens paper plant. Occitanie president Carole Delga stated this funding was designed to demonstrate that paper pulp production has a future in France.
Fibre Excellence Tarascon plant liquidated by Toulouse commercial court
The Toulouse commercial court pronounced the judicial liquidation of the Fibre Excellence paper pulp plant in Tarascon, Bouches-du-Rhône on Wednesday, July 29, 2026. The Tarascon site, employing 270 workers, accumulated a deficit of approximately 105 million euros.
Soprema consortium submits takeover bid for Saint-Gaudens paper plant
The Alsatian industrial group Soprema, specializing in roofing and thermal insulation, submitted an indicative takeover offer for the Saint-Gaudens paper pulp plant. Soprema partnered with Belgian paper company VPK Group and energy company Engie to consolidate the bid. The consortium plans to maintain paper pulp production while transitioning to production of 'fluff pulp' wood flakes for insulation applications. The offer aims to preserve all 270 existing jobs and create approximately 50 additional positions in insulation panel manufacturing.
Fibre Excellence Indonesia-backed paper pulp group placed in judicial reorganization
The Indonesia-backed Fibre Excellence group, employing 670 workers in France, was placed in judicial reorganization in late April 2026. The group operated two major paper pulp production plants in France: one in Tarascon, Bouches-du-Rhône, and one in Saint-Gaudens, Haute-Garonne, each employing 270 workers.
Tarascon Fibre Excellence site carries 105 million euro deficit
The Toulouse commercial court calculated the Tarascon Fibre Excellence plant's deficit at approximately 105 million euros. The Tarascon site suffered from a production deficit that made it less viable for takeover compared to the Saint-Gaudens location, which carried an estimated 54 million euro deficit.
Fibre Excellence produced one-quarter of French paper pulp consumption
Until production halted in April 2026, the Fibre Excellence group produced 500,000 tonnes annually, representing approximately one-quarter of France's 2 million tonne annual paper pulp consumption. The group was France's leading paper pulp producer, supplying pulp for notebooks, tissues, diapers, and packaging materials.
Fibre Excellence production halted due to raw material cost surge and low profitability
Fibre Excellence halted production at both plants in April 2026 after the Indonesian shareholder Jackson Wijaya withdrew support. The company's power generation operations at both plants became unprofitable due to soaring raw material costs (wood and wood chips) on the French market. After injecting approximately 300 million euros into the group, Wijaya ceased investment, citing lack of profitability.
Fibre Excellence Saint-Gaudens plant occupied by workers since June 21, 2026
Workers at the Fibre Excellence Saint-Gaudens plant occupied the facility beginning June 21, 2026 to place machinery 'under protection' and prevent asset liquidation. The occupation continued through July 30, 2026 when the court announced the takeover reprieve.
Toulouse commercial court orders liquidation of Fibre Excellence Tarascon pulp mill
The commercial court of Toulouse pronounced the judicial liquidation of the Fibre Excellence pulp mill in Tarascon, Bouches-du-Rhône on July 29, 2026. The court determined the facility's situation was 'irremediably compromised, without prospect of recovery' with a liability of approximately 105 million euros. The decision affected 270 employees at the Tarascon site.
Fibre Excellence placed in judicial receivership in April 2026
Fibre Excellence was placed in judicial receivership on April 27, 2026 after Indonesian shareholder Jackson Wijaya ceased investments and refused further capital injections. Wijaya had invested approximately 300 million euros in the group but cited lack of profitability as justification for withdrawal. Both manufacturing sites have been idle since April.
Industrial interest expressed for Fibre Excellence Saint-Gaudens site
An unnamed industrial buyer expressed interest in acquiring the Fibre Excellence site in Saint-Gaudens, Haute-Garonne, which employs 270 workers. The buyer submitted a letter of intent shortly before the court decision and was given until Wednesday July 29 to deposit a 2 million euro deposit to gain additional time to formalize a takeover offer by late August.
French state offers support package for Fibre Excellence recovery
The French government, through Industry Minister Sébastien Martin, announced readiness to support a serious takeover offer for Fibre Excellence. Support measures include increasing by 20 percent the electricity purchase price from Fibre Excellence and increasing wood supply from the National Forestry Office (ONF).
Matthieu Pigasse's takeover bid for Fibre Excellence rejected by court
The Toulouse commercial court rejected on Monday July 28, 2026 the sole takeover offer for the entire Fibre Excellence group presented by financier Matthieu Pigasse, which had support from the Occitanie and Provence-Alpes-Côte d'Azur regions. The rejection was due to lack of additional state guarantees and conditions precedent not being met.
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2 alternative perspectives
Fibre Excellence halts production as costs soar and deficits mount
Fibre Excellence shuts down production after mounting losses make operations economically unsustainable.
French state intervenes with recovery support for Fibre Excellence
French state launches recovery support package for bankrupt Fibre Excellence.
Industrial buyer emerges for Saint-Gaudens mill assets
Industrial buyer interest emerges for Fibre Excellence's Saint-Gaudens mill during liquidation.
Court rejects Pigasse takeover, orders Fibre Excellence liquidation
Court rejects Pigasse takeover bid and orders Fibre Excellence mill liquidation.