Marco Nespolo, the CEO of the Italian paper group Fedrigoni, gives an update on the situation of the group in this period of coronavirus epidemic.
"We are gradually approaching the end of containment in Italy and around the world, and as always, we want to keep you informed of our progress in this complex situation.
As you know, our production has never stopped over the last few months. Having been recognised by all local authorities as an essential service, we have kept our business running at full capacity, protecting the health of our 4?000 employees and ensuring that our customers can fully meet all their orders and needs as they arise."
2019, a year of significant growth
In a few weeks, the Group will announce its results for fiscal year 2019, "a year of significant growth and extremely positive results".
The last major transaction was the acquisition of the Ritrama group which positions Fedrigoni "among the world's leading players in the self-adhesive label industry". "Our growth trajectory also continued in the first quarter of 2020."
With coronavirus, more labels and less paper
The CEO goes on to say: "We are now measuring the economic impact of the coronavirus crisis."
"The Pressure Sensitive Labels business unit continues to grow, with a significant increase in volumes, which has led to the expansion of its production capacity, in order to efficiently serve primary sectors such as food and beverages, pharmaceuticals and healthcare products", he notes .
"The Paper and Security business unit, however, has seen its orders decline over the past month. As a result, it had to adapt its production capacity to market demand, which led to the temporary closure of some Italian mills for a few days each month in April and May"
No layoffs, all orders filled
Although some paper mills will close temporarily, no layoffs are envisaged within the group. This will allow production capacity to be adjusted to demand, while making room by emptying stocks already produced.
All services for the group's customers will remain fully operational without interruption. "So we'll be able to continue to fill all our customers' orders in the coming months" stresses Marco Nespolo.
Sketchbooks for the children and new mask paper
In addition, in recent weeks, the papermaker has implemented several actions to contribute to the entire supply chain and community.
In collaboration with distributors, wholesalers and stationers, Fedrigoni offered sketchbooks of its Fabriano brand to the children of Italian families.
In addition, the manufacturer has developed a new filter paper for the production of face masks.
The group is already anticipating the next phase of the emergency triggered by the Italian State, evaluating new precautionary measures to be introduced in all offices and factories.
"In the meantime, the Fedrigoni Group is continuing on the ambitious path of growth and transformation it has begun, implementing all the commitments, strategic initiatives and investments defined in the 2020-2023 industrial plan."
