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Mon, Jun 17, 2019 05:02
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Management Side
Arjowiggins Stoneywood paper mill negotiations fall through

ABERDEEN, Scotland (From news reports) -- Negotiations with a preferred bidder for an Aberdeen paper mill which employs hundreds of people have fallen through.

The future for nearly 500 workers at the Arjowiggins Stoneywood plant was plunged into doubt in January after its parent company failed to sell it.

It was revealed in March that a preferred bidder had been selected.

However, administrators said the negotiations had ended without a sale.

A spokesman for administrators FRP Advisory said: "The joint administrators have begun discussions with a management buyout team (MBO) after negotiations with a preferred bidder ended without a sale.

"Discussions will now be progressed with the MBO team, Scottish Enterprise and other interested parties over the coming weeks to explore whether a sale can be secured.

"In the meantime, it remains 'business as usual' and the plant continues to operate."

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