Finnish Helprint applies for reconstruction – acquires two German printing companies

Finnish gravure printer Helprint, which recently got a new owner, have filed for a financial reconstruction.

At the same time paper supplier UPM has asked the court to declare Helprint bankrupt.

The court has requested further information from Helprint regarding the reconstruction process, according to Finnish paper Lansi-savo.fi.

CEO Erki Katkosild of Helprint said in relation to the application for reconstruction that Helprint’s future is not at risk.

“The company is doing good and the business will continue,” says Katkosild to Finnish paper Lansi-savo.fi.

The debts total 8.7 million euro and UPM is the largest creditor with a claim of 3.8 million euro, reports Lansi-savo.fi. In 2018, Helprint had a turn over of 33 million euro and the company has approximately 110 employees.

The printing of the Ikea catalogue is one of Helprint’s largest job.

Acquiring two offset printers

At the same time, Euwid reports that Helprint has acquired two German offset printing companies Körner Druck and J.Fink. The two print houses are purchased from Helprint’s former owner, Circle Media.

Late May, Circle Media announced that the firms in Germany were up for sale. In connection to the acquisition a new company is established: Printers Group with headquarters in Stuttgart, according to euwid-paper.com.