Italy-based tissue producer Sofidel will acquire NTG Papermill Limited (tissue) in the U.K. Lancaster area. The acquisition enables Sofidel to optimize the operations of its converting plants in the U.K. Sofidel, one of the leading European manufacturers of paper for hygiene and domestic use, reached agreement for acquisition of the shares of NTG Papermill earlier this week, on Monday, September 30, and it became effective October 1.
The tissue mill, that is located in the North West of England, Lancaster area, is equipped with a paper machine with a capacity of approximately 32,000 metric tpy.
"Through this acquisition, we further strengthen our production capacity in a major market place such as Britain. It is a move that enables Sofidel to optimize the operations of its converting plants in the U.K." said Luigi Lazzareschi, CEO of Sofidel.
Sofidel, a privately held company owned by the Stefani and Lazzareschi families was established in 1966. The Group has 27 subsidiary companies in 13 countries (Italy, Spain, Sweden, the U.K., Belgium, France, Croatia, Germany, Poland, Romania, Greece, Turkey, and the U.S.) and more than 5,000 employees. With an aggregate turnover of EUR 1,511 million, Sofidel is the second largest producer of tissue paper in Europe and the sixth in the world.
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