News within the industry of pulp and paper, Jul, 18 2019
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Pro-Gest acquires insolvent tissue producer Papergroup

Photo: Pro-Gest
Photo: Pro-Gest
Published by
Simon Matthis - 13 May 2019

Italian integrated packaging and tissue manufacturer Pro-Gest is in the process of acquiring Italian tissue manufacturer Papergroup, according to Euwid. Papergroup, which operates sites near Lucca in Tuscany, has been insolvent since July last year and was auctioned off on 7 May.

Pro-Gest reportedly was the only interested party and bought the company at auction for the minimum price of €14.42m, excluding the value of stocks.  

Papergroup operates a total of three facilities in Capannori near Lucca, an area traditionally home to many tissue manufacturers.