Pro-Gest Group acquires Ondulati Giusti in Altopascio, Tuscany, and Cartonificio Fiorentino based in Sesto Fiorentino, also Tuscany, Italy.
In October 2014 Pro-Gest, with headquarters in Istrana, Treviso, rescued the two businesses from bankruptcy in record time, taking over operations through a business branch lease, thus preserving all existing jobs.
Thanks to the promptness of Pro-Gest, the conditions were met for the business to continue having access to lines of credit for the much needed working capital. Moreover, the acquisition of the two sites by the Italian leading Group for the production of containerboard, corrugated cardboard and packaging solutions ensures the maintenance of high quality standards and cutting-edge technology in this industry.
No negative repercussions for the approximately 300 direct employees and for all indirect employees of the supply chain, who have been able to keep their jobs during the various steps of this acquisition. The process has been conducted with the positive involvement of the trade unions.
The intensively fought auction was open to International competitors and in the end Pro-Gest’s offer was the winning bid.
"We are very proud of these acquisitions for several reasons "says Bruno Zago, CEO of Pro-Gest Group. "The first is to have demonstrated that the interest of Pro-Gest towards the two companies was serious and consistent. Secondly, we take pride in being able to keep the headquarter of these operations in Italy as we are certain that we have the capacity and the potential to increase our competitiveness in an industry with a very strong global growth trend. Therefore, this acquisition was strategically important to further reinforce our integrated supply chain from pulp to packaging. Finally, we are fulfilled knowing that we have worked in full cooperation and harmony with the employees, trade unions and institutions with the aim of maintaining the great heritage of professionalism and expertise of these companies, only a few years ago on the verge of closing doors."
Pro-Gest is the leading private Group of companies in Italy and one of the main players in Europe involved in the vertically integrated production of containerbord, corrugated cardboard and packaging solutions.
