The deadline for submitting bids to acquire the Errenteria paper mill, Papresa, which is currently in voluntary creditor proceedings, has closed with only one formal offer received: from CL Grupo Industrial. Despite interest shown by two other business groups, their offers did not materialize. The next steps, which will determine the future of this Gipuzkoa-based company, will now be handled by the insolvency administrator, PKF Attest.

The Basque Minister of Industry, Sustainability and Energy Transition, Mikel Jauregi, confirmed that CL Grupo Industrial is the sole entity to have submitted a formal offer. The proposal values Papresa at 39.3 million euros and includes plans to maintain the paper mill's two lines of activity in Errenteria: newsprint and packaging paper. It also aims to retain 148 of the current 220 jobs, representing a 28% workforce reduction.

CL Grupo Industrial expressed its interest early on, seeing Papresa as a valuable addition to its paper sector activities, which already include companies such as Ondupack, Ondupet, Papeleras Arlanzón, Murcia Cartón, and Matías Gomé Tomás. Cristian Lay, representing the group, met with the company's works council to convey their intention to integrate Papresa into their conglomerate, forming a strong international group.

Union representatives cautiously welcomed the proposal, appreciating the commitment to maintaining industrial activity. However, they later learned of the Extremadura-based group's plans to reduce staff, which they firmly opposed, arguing that the current 220 employees are essential for operating both lines of activity.

Regarding potential support from the Basque Government, Minister Mikel Jauregi cautioned that the Executive requires guarantees of "a solid future industrial project" with an investor or industrial partner "of reputable track record, promoting quality employment and value chain activity" before making a decision. He added that they would maintain ongoing contact with both the company's management and the works council.

Papresa had also attracted interest from another industrial business group and Basque industrial investors, who registered for the insolvency process to access detailed company information and potentially submit their own offers. However, once the deadline passed, only CL Grupo Industrial formalized its proposal.