Italian group Pro-Gest has exercised its pre-emptive right and acquired corrugated packaging producer Ondulati Giusti.
Pro-Gest has announced the conclusion of the takeover of Italian manufacturer of corrugated board and packaging Ondulati Giusti. Ondulati Giusti's assets include the Ondulati Giust sheeting plant in Altopascio near Lucca with three corrugators with a total capacity of 500 million m² and the subsidiary and integrated packaging facility Cartonificio Fiorentino near Florence which has a capacity of 80 million m² of corrugated board and corrugated board packaging.
Pro-Gest was already operating the two plants as it leased them in autumn 2014. After German group Palm made an offer to acquire the sites earlier this year, Pro-Gest exercised its pre-emptive right to buy them. The company said that the 300 direct employees would not be affected by the measure and the jobs would be retained. It added that this acquisition was strategically important to further reinforce its integrated supply chain from pulp to packaging.