Acquisitions

The Pro-Gest Group provisionally wins the auction of Papergroup Spa

0
177

Tolentino Srl, a company in the Pro-Gest Group, an Italian producer of integrated packaging and tissue, was the only participant at the auction and was thus provisionally awarded the company assets of the bankrupt Papergroup Spa at the basic price of 14.42 million euros, excluding stock value.

The company is formed of three business units located in Capannori, in the province of Lucca, and is currently used both for manufacturing paper (paper mill) and for transforming into the finished product (technical paper), and employs about 100 people. The company has been insolvent since July last year and was put up for auction on 7 May.

«Pro-Gest» explainsBruno Zago, managing director of the group«already has a presence in Tuscany with two factories. We believe that this is an interesting operation to improve the synergies and integrated supply chain of our company».

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here