Fedrigoni acquires 70 per cent of a NewCo
By PrintAction Staff
By PrintAction Staff
Fedrigoni acquires 70 per cent of a NewCo that will produce inner trays for boxes and gift cases for luxury items made entirely of thermoformed, biodegradable and environmentally friendly cellulose instead of plastic.
The recently signed agreement is with Tecnoform, a company from Colorno (Parma) which will retain the remaining 30 per cent of the capital, and which specializes in the production of trays, displays and internal elements for packaging, made from plastic and other materials, used in various industrial sectors such as cosmetics, fashion, toys and food.
The NewCo is a spin-off of the Tecnoform business dedicated to the development of innovative packaging products to replace plastic with thermoformed cellulose through a proprietary technology to process cellulose fibre and certified and patented packaging solutions that are highly innovative and environment-friendly. It will initially focus on the cosmetics and high-end perfumes sectors. The applications, however, are endless, ranging from luxury items to technology, from jewellery to watches and food and e-commerce packages, with Fedrigoni aiming to expand this business to reach a turnover of $25 million in the next two to three years.
“The agreement with Tecnoform is a new milestone on the path toward innovation to offer the market higher performing paper replacements for plastic. This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030,” said Marco Nespolo, CEO of the Fedrigoni Group. “The luxury packaging sector is extremely relevant to us and we believe we can make the difference in guiding it, on a global level, toward 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”.
This is the sixth acquisition in less than three years for Fedrigoni.