Fedrigoni to sell security business in Bollate to Portals

Fedrigoni's security features business at the
Bollate plant in Italy will change hands
30 Apr 2021 − 

After announcing the intention to part with its security paper business in Brazil, the Fedrigoni group has now agreed to divest its business in Bollate, Italy. The site offers security features for banknotes or passports.

Italy's Fedrigoni Group intends to sell its security features business in Bollate near Milan to security paper specialist Portals in the UK. The companies reported that an agreement had been signed.

Portals also agreed the option to acquire certain banknote paper and security paper assets and machinery from Fedrigoni's security paper business in Fabriano. This put and call option may be exercised by each of the parties by the end of 2021, following the closing of the Bollate transaction. The two separate transactions are expected to be finalised in the course of the year.

Company will operate under the name of Fase Srl

Fedrigoni's security business includes its portfolio of security features such as security threads and foils for banknote applications and other security documents as well as the production plant in Bollate. Around 100 employees from the group will join Portals. A new company named Fase Srl has been established to allow the transaction.

The security features business is part of the company's Fabriano Security division, which also includes the paper mill in Fabriano and a paper mill in Salto, Brazil as well as the converting arm Arconvert, which makes label materials.

In case the option in Fabriano is exercised, certain machinery and equipment used for the production of banknote and passport papers will be sold to Portals, whilst the personnel, the plant and certain critical assets will remain with Fedrigoni to develop the company's Art & Drawing business.

Brazilian security paper division to be sold too

In autumn last year, Fedrigoni had already announced it wanted to part with its paper and security business in Brazil run by Fedrigoni Brazil Papéis. The subsidiary operates a paper mill with a capacity of 20,000 tpy of banknote paper and specialty papers for graphic application and a converting plant, which can make up to 120 million m² of self-adhesive labels.

The Fedrigoni group operates a total of 21 plants, which make different kinds of specialty papers such as security papers, papers for packaging applications and art paper as well as self-adhesive labels.

Portals says it has invested heavily in the last three years to develop its banknote and security paper business. The company is described as one of the world's leading players in this sector. It produces security products for use in critical applications such as passports and vehicle registration documents. Each year Portals makes materials for more than 12 billion banknotes, 200 million brand labels, 70 million passports and 60 million certificates.

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