Announced a year ago, the acquisition is now effective . Italian paper group Fedrigoni owns the group's Chinese plant Arjowiggins, placed in receivership in 2022 .
The Quzhou paper mill, located in Zhejiang province and employing 130 people, produces around 7,000 tonnes of translucent tracing paper a year, sold under the Gateway and Sylvicta brands and used for a variety of applications, including industrial design, food packaging, consumer electronics and luxury goods.
"With this first paper mill in China, Fedrigoni can now strengthen its geographical presence in the Asian market, where it already has an extensive distribution network in China, Hong Kong, the Philippines, Indonesia and Bangladesh, comprising 11 warehouses, a self-adhesive materials production plant in Hefei and an inserts and RFID labels production plant in Guangzhou," stresses Marco Nespolo, CEO of the Fedrigoni Group.
This acquisition also enables the papermaker to expand its product portfolio with tracing papers, "a recyclable monomaterial support capable of replacing plastic in packaging", says the group. And for Fedrigoni, innovation linked to the transition from plastic to paper is one of its most important areas of investment.
With Arjowiggins China, the number of acquisitions made by Fedrigoni over the last four years rises to 14.
This month, the Italian company also announced an investment in SharpEnd/io.tt a consulting and connected solutions company.
