International Paper delays Valls and Montblanc plant closures over potential bid

The company extends the negotiation deadline by one week after receiving interest from a potential buyer.

Generic image of the exterior of an industrial paper manufacturing plant.
IA

Generic image of the exterior of an industrial paper manufacturing plant.

The multinational International Paper has decided to extend the negotiation period for the closure of its Valls and Montblanc plants until March 25, following a formal expression of interest from a potential buyer.

The company received a letter from a firm interested in acquiring the facilities in Alt Camp and Conca de Barberà. This interested party has requested more time to prepare a formal bid, leading to the postponement of the original deadline set for Wednesday, March 18.
The extension is conditional on the interested company submitting a binding offer by this Thursday. Meanwhile, International Paper confirmed that another business group that had previously requested information about the plants has officially withdrawn from the process, citing a lack of further interest.
The closure plan, first announced in early February, threatens the jobs of 174 employees. If no buyer is found, the company intends to phase out operations progressively starting this month and concluding by the end of the year.