Jan. 25, 2024 - VPK Group announced that it has entered a joint venture with IEMME srl, an Italian corrugated cardboard company based in Gambolo (near Milan), Italy.
IEMME is a leading producer of corrugated cardboard packaging and sheets in Italy.
In 2023, IEMME's modern plant produced 70 million m2 of cardboard, employed 100 people and generated a revenue of 40 million euros.
VPK explained that the joint venture enables it to offer a diverse range of sustainable paper-based packaging solutions in Italy, including printed Fanfold, digitally printed packaging, American and die-cut boxes and sheet cardboard, tailored to the needs of customers in different sectors.
"This new joint venture in Italy aligns seamlessly with VPK Group's long-term vision and strategy for sustainable growth and expansion of its vertically integrated, value-added business model across Europe, VPK stated in a press release.
Going forward, VPK will join the company's capital and join forces to further lead and develop the organization, respecting local values, entrepreneurial spirit and sound management practices.
Editor's note: The joint venture with IEMME is VPK's second growth initiative in Italy. In mid-October 2023, VPK Group acquired a majority stake in Zetacarton, an Italian corrugated cardboard company based near Como, marking VPK's first step into Italy's corrugated board packaging market. Read a related article: VPK Group Buys Majority Stake in Corrugated Packaging Company Zetacarton in Italy
VPK produces recycled paper, corrugated cardboard packaging, solid board packaging and cores.SOURCE: VPK Group
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