Left side advert image
Right side advert image
Super banner advert image
Subscribe to Print Monthly's RSS feed

Enter your email address here to sign up for our weekly newsletter

Business

Fedrigoni offloads security business to Portals

Specialty papers and self-adhesive materials producer Fedrigoni has agreed a deal to sell its Italy-based security business to banknote and security paper production specialist Portals.

Article picture

Marco Nespolo, chief executive of Fedrigoni Group, says the security business will be in “excellent hands”

Financial terms of the agreement were not disclosed, but it was stated that the sale of the Bollate business remains subject to certain customary conditions.

Portals has also struck a deal to acquire an option to potentially purchase certain banknote paper and passport paper assets, including production machinery, from the Fabriano (Italy) security division of Fedrigoni.

The separate agreement is subject to a put and call option, which may be exercised by each of the parties by the end of 2021, following the closing of the Bollate transaction.

“We look forward to the completion of the transactions and to welcoming Fedrigoni’s skilled and experienced Bollate team to Portals as we continue to develop a leading, integrated security paper business,” Portals chief executive Ross Holliday says.

This transaction will enable Portals to develop and deliver more quickly and efficiently, the leading security products our customers require

“This transaction will enable Portals to develop and deliver more quickly and efficiently, the leading security products our customers require.”

Marco Nespolo, chief executive of Fedrigoni Group, adds: “We are proud that an established international player in the banknote and security papers business, who intends to invest and expand, has expressed strong interest to acquire our security business based on the value of our technology and the know-how of our people, who we are placing in excellent hands.”

Around 100 employees from the group will join the new company - Fase S.r.L. – which has been established to allow the transaction regarding the Bollate business.

If you have an interesting story or a view on this news, then please e-mail news@printmonthly.co.uk

Follow Rob on:
Sophie Jones' Twitter Profile


Print printer-friendly version Printable version Send to a friend Contact us

No comments found!  

Sign in:

Email 

or create your very own Print Monthly account  to join in with the conversation.