Cartiera dell'Adda has bought an 80% stake in Industria Cartaria Pieretti and is now targeting to become a leading international player in the greyboard sector.
Italian greyboard manufacturer Cartiera dell' Adda (CDA), with headquarters in Lecco, Lombardy has announced the acquisition of the 80% in Industria Cartaria Pieretti (ICP). ICP manufactures greyboard and recycled containerboard and has headquarters in Lucca, Tuscany.
With this acquisition CDA Group will become one of the most important European greyboard manufacturers, with two big facilities, a total production volume of 300.000 tpy, a turnover of €120m and 230 employees. The growth in size and the expansion in the range of products will enable the company to reinforce its position in international markets and increase R&D efforts to improve quality and the efficient use of raw materials, announces CDA.