With its first paper mill in China, Fedrigoni is strengthening its geographical presence in the Asian market, the group said.
Fedrigoni has finalised the takeover of Arjowiggins China. The group announced that it had completed the acquisition of the entire share capital of Arjowiggins HKK3 Limited on 29 December 2023, following the conclusion of an industrial agreement a year ago with Arjowiggins HKK3 Limited, the owner of Arjowiggins China Group.
The Quzhou paper mill in Zhejiang Province is a world leader in the production of transparent papers sold under the Gateway and Sylvicta brands for applications in industrial design and graphics, food, consumer electronics and luxury packaging. The mill employs 130 people and produces about 7,000 tpy of translucent paper. Product innovation related to the transition from plastic to paper was one of the most important areas of investment in Fedrigoni's research, development and innovation roadmap and a fundamental pillar of the company's ESG strategy until 2030, Fedrigoni explained.
The takeover is said to strengthen Fedrigoni's Special Papers business division and increase its geographical presence in the Asian market where Fedrigoni already has an extensive distribution network in China, Hong Kong, the Philippines, Indonesia and Bangladesh.