November 7, 2025 12:07

Klöckner Pentaplast, one of Europe’s leading manufacturers of rigid and flexible plastic films for packaging, has initiated a financial restructuring plan that includes, for some of its group companies, the voluntary filing for creditor protection under the U.S. Chapter 11 process.

The transaction, supported by a majority of its financial stakeholders, is based on the signing of a restructuring support agreement, or RSA, which outlines the reduction of the company’s funded debt by approximately €1.3 billion. Under the terms of the same agreement, once the restructuring is complete, ownership will transfer to a group of financial partners involved in the operation.

“The steps we are taking today will provide KP with new owners and a stronger financial foundation to continue driving innovation, delivering sustainable packaging and films, and responding to the needs of our customers with agility and excellence,” said Roberto Villaquiran, CEO of the company. “Our operations worldwide are continuing without interruption, and the support of our financial partners demonstrates their confidence in our business and the opportunities ahead.”

Chapter 11 is a legal process available in the United States that allows companies to raise capital, restructure their finances, and revise their ownership and organizational structure — all while continuing day-to-day operations.

As part of this procedure, Klöckner Pentaplast has secured commitments for €215 million in new debtor-in-possession, or DIP, financing from certain financial partners.

According to the RSA, the company intends to fully pay suppliers, commercial partners and service providers, both for goods and services delivered before and after the filing.

Entities based in Argentina, Belarus, Brazil, Canada, China, the Czech Republic, Egypt, India, Italy, Jersey, Mexico, Poland, Portugal, Russia, Switzerland, Thailand, Turkey, and the United Arab Emirates are excluded from the Chapter 11 process.
Additionally, some entities located in Germany, Luxembourg, the Netherlands, Spain, the United Kingdom, and the United States are also not part of the filing.

Founded in 1965, Klöckner Pentaplast operates 27 plants in 16 countries, employing more than 5,000 people globally.

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