Italian papermaker Fedrigoni acquires part of U.S.-based Mohawk Fine Papers, with which it initiated a partnership in September 2022. In recent months, Mohawk Fine Papers had been facing significant financial difficulties. This transaction frees the newly-created company entirely from debt, thus preserving the majority of jobs, industrial activities and customer relations, says Fedrigoni without giving further details.
Founded in 1931, Mohawk Fine Papers produces specialty papers particularly used by designers, brands and printers, such as Mohawk Superfine, Crane Lettra, Strathmore and Renewal.
The new company, whose Mohawk Fine Paper mill is located in Cohoes, New York, according to local press reports, is now part of the Fedrigoni Special Papers division. For the Italian company, this represents an important step forward in its international growth strategy.
This is the third merger-acquisition since the beginning of the year, after SharpEnd in the UK and arjowiggins paper mill in China .
The arrival of Mohawk enables Fedrigoni to produce and distribute a wide range of Fedrigoni papers directly in North America, and to develop the marketing of Mohawk papers internationally.
"In this way, we will further support the strategies of our customers who prefer proximity models to the traditional global purchasing approach, in order to minimize environmental impact and the risks of supply chain disruption." says Marco Nespolo, CEO of the Fedrigoni Group.
