RENOLIT takes over Eurogloss
| Subj: Markets
The RENOLIT Group extends its position on the Italian market. Effective 1st October 2010 the company, located in Worms, will take over the business of the film producer Eurogloss, with registered office in Peschiera Borromeo, and will integrate this company into the newly established RENOLIT Milano corporation. The Business Unit RENOLIT DESIGN expects a turnover of approximately €13m from the acquisition in this full year.
The Italian company has special expertise in the areas of high gloss and super matt films, as well as with 2D products for lamination and coating. More than half of the production serves the domestic Italian market, while the other half is for export.
„With this move we not only step up our presence in the important Italian market, but also create additional production capacity for high gloss films. On top, we supplement our product portfolio in the growing 2D applications market,” said Karsten Jänicke, Business Unit Manager RENOLIT DESIGN, herewith outlining the strategic reason for the Eurogloss takeover. Also RENOLIT wants to invest into the development of product quality and further improve the profitability of the production site in Peschiera Borromeo. Eurogloss operates three calenders and two printing units. According to RENOLIT, the future focus will clearly be on high gloss films and 2D film applications.