Italian tissue products manufacturer Lucart will expand in Italy. The company announced it had signed a binding agreement to acquire a controlling stake in Italian tissue converter Cartindustria Eurocarta.
Eurocarta is specialised in the production of sanitary and cleaning products and services for away-from-home use. Its portfolio includes toilet paper, paper towel dispenser and medical rolls, amongst others. The company converts 40,000 tpy of tissue paper and employs 70 people. Last year, its annual sales amounted to €78.5m.
With the transaction, Lucart wants to expand its geographical presence in strategic markets, with particular focus on Italy and France. According to the press release, Eurocarta generates around 44 per cent of its sales in Italy and 56 per cent in other European markets. The company reportedly has a well-established presence in the Italian and French markets.
Lucart is a producer of fresh fibres-based as well as recycled tissue paper and tissue products. In addition to tissue, the company also makes airlaid products and MG papers. Lucart has the capacity to produce 396,000 tpy of paper on 12 machines. The company has around 1,700 employees and generates annual sales of €685m.
News Courtesy: Euwid-paper