In a statement, the independent German paper mill said its continued investment has “stabilised the business and order situation”.

The implementation of investments, which will amount to around €4m (£3.4m) in total, have included a new, high-performance mill system that was built in the last six months and was successfully put into operation in Q2 this year.

The business has also completed various projects to increase sustainability and save energy. It has converted all motors to the highest energy efficiency class while a new and significantly more energy-efficient compressed air system now supplies the entire site.

As part of a logistics project, all diesel and gas-powered industrial trucks were replaced with efficient electric vehicles and, to reduce waiting times for freight forwarders, the number of available loading ramps was doubled.

Additionally, to be able to serve its customer requirements more quickly, Feldmuehle launched an equipment modernisation project last month. The core item is a new, significantly more energy-efficient embossing calender. The commissioning of this equipment, which has amounted to investment of around £2.4m, is scheduled for Q1 2023.

The idea behind these projects, and others that are currently being prepared in accordance with the company’s rolling five-year plan, is to make the site more sustainable and energy-efficient “and to be able to continue to provide Feldmuehle customers with excellent service in the future”.

Nearly two years ago Feldmuehle strengthened its management team after trading above plan since it exited its insolvency proceedings at the beginning of 2020.

The company, which is based just west of Hamburg, currently develops and manufactures high-quality white coated label papers and packaging papers for the German and international markets.