edrigoni to Exit Office Papers Business; Closing Giano Business Unit
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The Fedrigoni Group announced its decision to exit the office paper business and will close Giano S.r.l, its Italian subsidiary operating in the office paper business segment — a separate vertical within the Special Papers business.
In a written statement, Fedrigoni said, "This is a market, especially that of photocopy paper, that has been in decline for years and is dominated by large specialized international groups that, despite having more efficient production plants due to their size and the large volumes managed, have announced in recent years closures and reductions in their production capacity, as a result of the structural decline in market demand.
"Fedrigoni's decision comes after two years of unsuccessfully searching for partners willing to invest in Giano to relaunch its competitiveness and goes in the direction of allowing the Group to focus investments and resources on the segment of specialty papers for packaging and creative communication, including art and design, in line with the industrial plan."
Marco Nespolo, CEO of Fedrigoni, commented, "We have long searched, without success, for partners who would provide the necessary guarantees for the development and relaunch of the office business. We have explored all possible scenarios, to the point of considering selling the entire Fabriano business, even though it is a strategic asset for us. Unfortunately, in this case too, we have not identified any potential partners, so we have come to the difficult but necessary decision to exit the office business, to be able to concentrate our efforts and investments on the distinctive products of Fabriano art and drawing, a symbol of excellence of Made in Italy in the world and a strategic asset for Fedrigoni.
"This does not mean that we are leaving the Marche region; on the contrary, we will continue to invest in the development of our production and converting sites in the area. We will do everything necessary to mitigate the impact of this decision on the people involved. Dialogue and collaboration with all social parties will be crucial," Nespolo concluded.
