Mohawk Partners With Italian Paper Maker
Italian paper manufacturer Fedrigoni has entered into a manufacturing partnership with Mohawk that could result in Fedrigoni taking over the Cohoes, New York-based paper maker. An article in Printweek notes that this partnership would allow the two companies to expand the global reach of their specialty papers.
"This is an important step forward to reinforce our geographical penetration in the United States, where we will directly produce and distribute high value-added papers, leveraging all possible industrial and commercial synergies with our group,” said Fedrigoni Group CEO Marco Nespolo. Read the full story in Printweek.
The companies sent the following press release to IPI:
The Fedrigoni Group and Mohawk Fine Papers, Inc. have entered into a manufacturing agreement to expand the reach of their specialty papers globally. Shared core values of craftsmanship, innovation, and sustainability make this a natural and valuable opportunity for both organizations. The Fedrigoni Group is the first global player in the manufacture of high added value specialty papers for luxury packaging and other creative applications and world leader in premium labels and self-adhesive materials. Mohawk, founded in 1931, is family owned and operated, manufacturing some of the world's most recognized specialty papers for designers, consumer brands, and printers. Mohawk's early innovation in digital printing and sustainability secured its leadership position in these two significant growth sectors.
“The agreement with Mohawk is a further element in our growth strategy in a market with excellent prospects such as specialty papers, especially for luxury packaging, where we intend to consolidate our global primacy. Many synergistic opportunities are also present for our self-adhesive materials division, which will expand its leading position in premium labels for the wine market in the US", comments Marco Nespolo, CEO of Fedrigoni Group. "We will also better support the ESG strategies of our clients, especially those in the luxury sector by giving them the option of moving to nearshoring rather than global purchasing."
“We are pleased to build upon our family's legacy of manufacturing and distributing paper recognized and trusted around the world for the many uses of our customers”, states Thomas O'Connor, Jr. CEO of Mohawk. "Like Mohawk, the Fedrigoni Group is focused on expanding the specialty papers market. Our partnership will allow us to continue our commitment and focus on the development of increasingly high-performing, innovative, and sustainable solutions."
Further strategic alignment comes from the Crane and Fabriano brands, which produce stationery products that inspire consumers to write, sketch, and paint on some of the most beautiful papers in the world. The two brands will actively participate in this new collaboration and will mutually explore opportunities to grow market share.
Mohawk also recently closed a new financing agreement with CIT Northbridge Credit, which supports and strengthens Mohawk’s plans for continued growth. Within the frame of their manufacturing partnership, Fedrigoni participated in the new financing through a convertible instrument. The alignment between Mohawk and Fedrigoni carries the potential to formalize a strategic transaction over the next several years.
The preceding press release was provided by a company unaffiliated with In-plant Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of In-plant Impressions.