Verlipack Plants Saved By Government Backed Rescue

The rescue operation to save Verlipack Belgium's three units at Jumet, Ghlin and Mol, was finalised by the Waloon government last December. The scheme allows the Heye group to take control of the three plants, with the Waloon and Flemish regional governments giving financial support. A technical management agreement was reached between Heye and the Beaulieu group, which had a majority shareholding in Verlipack, last September. However, since the German company found itself with excessive stocks, its first decision was to reduce production in order to dispose of them. The Jumet furnace was therefore closed down and a single furnace at Ghlin is working at reduced pace.