It has been reported that PulPac has filed for corporate restructuring amid financial difficulties.
The company, which has developed patented Dry Molded Fiber technology as an alternative to single-use plastic packaging, has also reportedly issued redundancy notices to 50 of its approximately 70 employees.
PulPac attributed its financial position to the transition towards fibre-based packaging progressing more slowly than anticipated. Johan Sölveland has been appointed restructuring administrator.
PulPac reported revenue of just under €5.1m in 2024 alongside a loss of €15.3m. Its technology has been developed for producing fibre-based alternatives to single-use plastic products across applications including foodservice packaging.
