France’s Sequana has finalised a deal with Fedrigoni S.p.A under which the Italian firm acquired the Brazil-based subsidiary Arjowiggins Ldta.
Arjowiggins says it produces high added-value papers in three business segments: graphic and speciality papers, creative paper, and security, according to data from the firm.
The latest contract is worth some €85 million, reports local daily Le Figaro. In 2014, the Brazilian entity generated revenues of about €70 million.
Sequana reportes sales of €3.4 billion for 2014, and it is operated by a global workforce of 9,600.
Set up in 1888, Fedrigoni says it is a multinational group with annual revenues of €873 million. Of these, 57% are generated by the manufacturing of paper, according to figures released by the Verona-based firm. Its product range includes adhesive papers, art papers, packaging papers, graphic papers, as well as banknotes and security.
