Burgo Group sold the Verzuolo paper mill, in the Cuneo area, to the Irish from Smurfit Kappa, historical company among the European leaders in the production of packaging cardboard. The Verzuolo paper mill, the first one founded by Luigi Burgo in 1906, today produces containerboard, i.e. packaging cardboard. About 200 employees work there.
The sale of the Verzuolo paper mill to Smurfit Kappa, which already operates in Italy with 23 production sites and 2,000 employees, will allow Burgo – a company note reads – “to carry out the industrial restructuring project undertaken in 2020 more quickly. with the entry of QuattroR Sgr in the shareholder structure alongside the Holding Gruppo Marchi Spa “.
The Verzuolo plant is integrated into the Smurfit Kappa Group supply chain in southern Europe, becoming “a key production hub in the integrated supply of packaging solutions”. However, Burgo Group maintains its leadership in the graphic papers segment and will continue to operate in the containerboard sector with the Avezzano (L’Aquila) plant.
The transaction was unanimously approved by the Burgo Group Board of Directors and the closing is expected in the fourth quarter. During this period Verzuolo will operate in continuity with the current methods, guaranteeing customer service.