Germany’s Papierfabrik Palm is bidding to take over the Italian corrugated board producer Ondulati Giusti, which is currently managed by the Italian Pro-Gest group via a leasing agreement.

According to local media reports and RISI’s industry sources, Papierfabrik Palm submitted an application at the Bankruptcy Court of Lucca last week with a bid to acquire Ondulati Giusti for a sum close to Euro 40 million ($43.3 million) which includes a pledge to keep all personnel after the takeover and an immediate cash payment.

risiinfo.com