Vipap Videm Krško
Vipap Videm Krško is a Slovenian pulp and paper producer based in Krško, known for newsprint, magazine paper, leaflet stock and an expanding portfolio of packaging papers.
Last updated August 25, 2026
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Overview
Vipap Videm Krško is a pulp and paper company headquartered in Krško, southeastern Slovenia. It is described as Slovenia’s largest paper producer and as one of the significant suppliers of newsprint and magazine paper in Central and Southeastern Europe. Its product range includes newsprint, magazine paper, paper for leaflets and packaging grades, with a strategic emphasis in the 2020s on reducing reliance on declining print-paper markets and increasing packaging-paper production. The company’s industrial origins date to 1939, when entrepreneur Fran Bonač established a pulp mill at Videm near Krško. The site was selected for its access to rail transport, water and wood resources. Bonač came from a family involved in paper and cardboard manufacturing: his father had owned a cardboard factory in Ljubljana, which Fran took over in 1909, and the family business later expanded to Zagreb and Krško. The original mill employed about 180 local people, but production was interrupted during the Second World War and restarted in 1946. Vipap Videm Krško expanded substantially during the postwar period. By 1975 it had four production lines, and a new pulp-production operation was introduced in 1976. During the 1980s the workforce reached approximately 3,000 employees, while annual output was reported at roughly 122,000 tonnes of pulp and 130,000 tonnes of paper. The mill became closely connected with the surrounding community; local sporting and cultural activities adopted the Celulozar name associated with the company. The dissolution of Yugoslavia brought a difficult competitive environment. The company faced foreign competition and parts of its assets were subsequently sold. Czech involvement began in 1996, when the Ostrava-based company ICEC acquired the mill. After ICEC became over-indebted, the company became associated with IPB bank and later with ČSOB following IPB’s bankruptcy in 2000. Ownership was ultimately transferred to the Czech Consolidation Agency in 2007 and then to the Czech Ministry of Finance in 2008. From 1997 to 2015, more than €150 million was invested in technological modernization and environmental improvements, according to the referenced company history. During that period, reported pulp and paper production reached as much as 440,000 tonnes annually. The Czech state attempted several times to sell the loss-making mill before completing a transaction in 2019. RIDG, an investment firm formed by a consortium including Portiva, IPDC Group, Investment Club and KRPA Holding, acquired the company and announced restructuring and modernization plans. The mill’s later production level was reported at more than 200,000 tonnes of paper annually, with a workforce of more than 350 people. In 2020, management began a restructuring program intended to reduce the share of newsprint and magazine paper from about 90% of production to 50% over three years. The planned shift targeted food-packaging paper, paper bags, carrier bags and laminated-paper applications. Proposed investment in new technology was intended to support packaging materials that are recyclable and durable. Vipap also wholly owns Levas Krško, a company producing wooden pallets for goods transport. Publicly available reference material does not establish a current executive roster, official website URL, or publicly traded status.
History
Vipap Videm Krško traces its origins to the paper-industry activities of the Bonač family. Fran Bonač took over his father’s cardboard factory in Ljubljana in 1909, and the family business expanded to Zagreb in 1937 before developing a pulp-mill project at Videm near Krško. The location offered several advantages for a paper operation, including railway access, water and nearby wood resources. Bonač commissioned engineer Fritsch, an experienced pulp-and-paper specialist, to prepare the project. Fritsch was supported by foreman Jože Kolšek and other experienced technologists who moved to Krško. The new mill began operating in 1939 and employed approximately 180 local people. Production was suspended during the Second World War but resumed in 1946. Expansion continued in the postwar decades. The site had four production lines by 1975 and added new pulp production in 1976. During the 1980s, employment rose to around 3,000 people, and the company reported annual output of approximately 122,000 tonnes of pulp and 130,000 tonnes of paper. Its presence extended beyond manufacturing into the local community, with sporting organizations and a music group using the Celulozar name associated with the mill. Following the breakup of Yugoslavia, the company entered a more challenging period. The loss of its former domestic market structure exposed the mill to foreign competition, and some of its assets were sold. Ownership and control then passed through a sequence of Czech financial and state institutions. Czech participation began in 1996, when Ostrava-based ICEC acquired the paper mill. ICEC’s over-indebtedness led to the company becoming connected with IPB bank. After IPB failed in 2000, shares were transferred to ČSOB. Following arbitration disputes, the Czech Consolidation Agency received the shares in 2007, and the Czech Ministry of Finance acquired them in 2008. The mill underwent extensive modernization during the Czech ownership period. Between 1997 and 2015, more than €150 million was reportedly invested in technological improvements and measures intended to reduce environmental impacts. Reported production during this period reached 440,000 tonnes of pulp and paper annually. Despite those investments, the Czech government struggled to find a buyer for the loss-making operation and attempted to sell it several times. A sale was completed in 2019, when RIDG acquired Vipap Videm Krško. RIDG was described as an investment firm formed by a consortium involving Portiva, IPDC Group, Investment Club and KRPA Holding. The transaction was accompanied by plans to restructure the business and modernize production. At that stage, the mill was producing approximately 200,000 tonnes of paper per year and employing more than 350 people. The company’s reported 2019 EBITDA was approximately €7 million; the figure is included only as historical reference and does not establish current financial performance. In 2020, Vipap announced a product and capacity reorientation. Newsprint and magazine paper, which together accounted for about 90% of production at the time, were intended to fall to approximately half of output within three years. The company planned to expand into food-packaging paper and materials used for paper bags, carrier bags and laminated paper. Proposed technology investments were aimed at making packaging products recyclable and durable. Vipap also wholly owns Levas Krško, a related company producing wooden pallets for transporting goods. The referenced material does not provide a verified current ownership structure beyond the 2019 RIDG acquisition, nor does it identify current executives or an official website address.
- 2020
Packaging-paper restructuring begins
[1]The company began a plan to lower its dependence on newsprint and magazine paper while expanding packaging-paper production.
- 2019
RIDG acquires the mill
[1]RIDG acquired Vipap Videm Krško and announced plans for restructuring and modernization.
- 2015
Long-term modernization program reaches its reported endpoint
[1]The period during which more than €150 million was reportedly invested in process modernization and environmental improvements concluded.
- 2008
Czech Ministry of Finance becomes owner
[1]The Czech Ministry of Finance acquired the paper mill from the Czech Consolidation Agency.
- 2007
Czech Consolidation Agency receives shares
[1]Following arbitration disputes, the shares were transferred to the Czech Consolidation Agency.
- 2000
Shares transferred after IPB bankruptcy
[1]After the bankruptcy of IPB bank, shares associated with Vipap were transferred to ČSOB.
- 1996
Czech ownership begins
[1]The Ostrava company ICEC acquired the paper mill, beginning a period of Czech ownership and institutional control.
- 1976
New pulp production introduced
[1]A new pulp-production operation was launched at the site.
- 1975
Four production lines operating
[1]The paper mill had expanded to four production lines.
- 1946
Production resumes after wartime interruption
[1]The mill restarted production after operations had been interrupted during the Second World War.
Products and positioning
A Slovenian industrial paper producer with a large-scale mill serving Central and Southeastern European markets, transitioning from traditional publication papers toward recyclable and durable packaging materials.
Publication paper
Newsprint
Newsprint was historically one of Vipap Videm Krško’s principal products and a major part of its supply position in Central and Southeastern Europe. The company’s restructuring plan indicated that the share of newsprint in overall production would decline as demand and strategic priorities shifted toward packaging applications.
Publication paper
Magazine paper
Magazine paper formed part of the mill’s traditional publication-paper portfolio. Together with newsprint, it accounted for the great majority of production before the 2020 restructuring initiative, which sought to reduce the combined share of these grades over a three-year period.
Publication and commercial print paper
Leaflet paper
Vipap produces paper for leaflets and related printed communications. The referenced material identifies leaflet paper as part of the company’s established paper range, although it does not provide individual product names, technical specifications or current volumes.
Packaging paper · 2020
Packaging paper
Packaging paper became the focus of the company’s strategic repositioning from 2020 onward. Planned applications included food packaging, paper bags, carrier bags and laminated-paper structures. Proposed new technologies were intended to improve recyclability and durability.
Transport packaging
Wooden pallets
Wooden pallets are produced by Levas Krško, a company wholly owned by Vipap Videm Krško. The pallets support the transport of goods and represent a related activity alongside the group’s core pulp and paper manufacturing.
Brand decisions
2020
Reorientation from publication paper to packaging paperStrategyBackground
Newsprint and magazine paper represented approximately 90% of production, while packaging-paper applications were identified as a growth opportunity.
Action taken
Management planned to reduce the publication-paper share to approximately 50% within three years and invest €10 million in technologies for recyclable and durable packaging paper.
Aftermath
The plan positioned food packaging, bags, carrier bags and laminated-paper inputs as priority areas. Later implementation results are not established by the supplied sources.
Planned technology investment. €10,000,000 planned investment (2020 plan)
2019
Sale to RIDGM&ABackground
The Czech state had tried several times to sell the loss-making paper mill before reaching an agreement with RIDG.
Action taken
RIDG acquired Vipap Videm Krško and announced plans to restructure production and invest in modernization.
Aftermath
The acquisition was followed by a strategic review and a shift toward packaging-paper production. The referenced material does not establish the full long-term financial outcome.
Reported transaction value. CZK 250,000,000 acquisition price (2019)
Sources1 sources
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