Fibre Excellence offer rejected, 670 jobs jeopardized

The commercial court in Toulouse dismissed Matthieu Pigasse’s roughly €90 million proposal to acquire the paper‑pulp maker Fibre Excellence. The bid, conditioned on state support for electricity costs, timber supply and carbon quotas, was deemed insufficient by Economy Minister Roland Lescure, who said it was “not at the level”.

The decision endangers the 670 jobs housed in the company’s two remaining French factories – Saint‑Gauden in Haute‑Garonne and Tarascon in Bouches‑du‑Rhône. Workers have occupied both sites while a separate, undisclosed industrialist has submitted a letter of intent to take over the Saint‑Gauden plant. Regional authorities and unions had backed the rescue plan, warning that the closure would cause major economic and social fallout in the affected communities.