Chieri, Italy 14 Feb 2014 -- Autajon is entering the Italian market and strengthens its position in the US. The company announced the acquisition of the five mills of folding cartons producer Fincarta.
French folding cartons and labels manufacturer Autajon has acquired the group Fincarta headquartered in Chieri, Italy which is also active in the folding cartons market. The company said that thanks to the takeover it would probably exceed the symbolic threshold of €500m of turnover in 2014. The number of employees will reportedly increase to 3,500. The transaction price was not revealed.
Fincarta operates the Italian sites Cartotecnica Chierese and Con-Pak near Turin, Cartotecnica Tifernate in Perugia, PLV near Milan as well as the Two C Pack site near Boston in the US. The group produces folding cartons for different applications such as for the chocolate, coffee and spirits sectors and also produces packaging for the POS market.
Autajon is a manufacturer of folding cartons and labels for various market sectors such as the perfume and cosmetics, the pharmaceuticals, the wine and spirits as well as the confectionery sectors. The group's production capacities amount to 3.5 billion boxes and 16.5 billion labels per year. It has 24 subsidiaries in Europe and one in the US and employs 3,000 people. Autajon's turnover in 2012 totalled €430m.