Cham Paper Group's Sale of Italian Mills to Delfort Group Falls Through

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The sale of the Cham Paper Group's (Switzerland) mills in Carmignano and Condino, Italy, to the Delfort Group, Traun, Austria, announced this past July 15, has fallen through due to the unsuccessful outcome of contract negotiations between the Delfort Group and the Italian employees' representatives in Carmignano.

This means that both mills will remain in the possession of the Cham Paper Group. They are in an adhoc favorable position thanks to the comprehensive restructuring of the Cham Paper Group during the past two years. By contrast, the GM of the Italian mills, Marcello Di Giacomo, who joined the Cham Paper Group one year ago, will be leaving the Group. His remit will be assumed by the mill managers in Carmignano and Condino, Gianluca Scaglioni and Gerold Zuegg, and the Group's executive management.

Activities of the Cham Paper Group in Switzerland will not be impacted by retaining the Italian mills. As of this year, the Group's industrial operations in Switzerland are focused on the finishing (coating technology) of sourced base paper and the development, launch, and marketing of premium product lines and services. The Group is currently immersed in project planning activities for transforming the 'Papieri' industrial park in Cham into an attractive urban district.

Delfort Group develops, produces, and sells specialty papers, with approximately 1,750 employees in five plants in Austria, Hungary, Czech Republic, and Finland.

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