Germany’s Papierfabrik Palm bids for Italian corrugated firm Ondulati Giusti

28 January 2016

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.