Probably: " ... PRUINES PLOMBIERES".
The first illegible characters may be: "SA" (Société Anonyme) - "FAB" (Fabrication) .......?
"Pruines" here must be the name of the family that once bought the factory situated in "Plombières-les-Bains".
An old factory that changed many times in what was produced there, it began with a paper mill in the 16th century, was closed around 1980 en demolished around 1990. I didn't find a link in English but give the French one.