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Klöckner Pentaplast has completed its financial restructuring following Chapter 11 bankruptcy, eliminating about €1.3 billion in debt. Ownership has transitioned to financial partners led by Redwood Capital Management.

Key appointments to the new Board of Directors include Klöckner's CEO Roberto Villaquiran and Redwood's Michael Kaufman, with Andrew Berlin of Berlin Packaging expected to become chairman. The company has secured an additional €349 million for operations and aims to enhance its packaging solutions amid a shift towards a circular economy. Previously, rising energy costs impacted margins, prompting the restructuring.