Fedrigoni has acquired 70 percent of NewCo for production of inner trays for boxes and gift cases for luxury items made entirely of thermoformed, biodegradable and environmentally friendly cellulose instead of plastic.
The agreement was recently signed with Tecnoform,a company from Colorno, in Parma, Italy,specializing in the production of trays, displays and internal elements for packaging, in plastic and other materials, used in various industrial sectors such as cosmetics, fashion, toys and food.
“The agreement with Tecnoform is a new milestone on the path towards innovation to offer the market higher-performing paper replacements for plastic,” said Marco Nespolo, CEO of Fedrigoni Group. “This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030.”
“The luxury packaging sector is extremely relevant to us, and we believe we can make the difference in guiding it, on a global level, towards environmentally friendly solutions, thanks to the know-how acquired so far, the synergies with the other activities in our ecosystem and the possibility of globalizing business, expanding it from Europe to America and Asia.”
Alessandro Groppi, CEO of Tecnoform, commented,“Our two companies are extremely well-matched. Fedrigoni’s experience in the luxury packaging sector, its knowledge of processes and manufacturing, added to the global dimension, will be crucial in helping us to develop new and highly innovative solutions.”
This is the sixth acquisition in less than three years for Fedrigoni, after four in just 18 months in the self-adhesives sector, where the group has strengthened its position as one of the global leaders.
Fedrigoni aims to expand this business to reach a turnover of EUR 25 million in the next two to three years.
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