Pro-Gest Acquires Ondulati Giusti And Cartonificio Fiorentino

Wednesday, May 11, 2016

Pro-Gest Group officially seals the acquisition of Ondulati Giusti in Altopascio, Tuscany, and Cartonificio Fiorentino based in Sesto Fiorentino, also Tuscany.

In October 2014 Pro-Gest, with headquarters in Istrana, Treviso, rescued the two businesses from bankruptcy in record time, taking over operations through a business branch lease, thus preserving all existing jobs.

Three key factors were peculiar to this complex transaction: continuity of operations, guaranteed employment stability and transparency of the entire process.

Thanks to the promptness of Pro-Gest, the conditions were met for the business to continue having access to lines of credit for the much needed working capital. Moreover, the acquisition of the two sites by the Italian leading Group for the production of containerboard, corrugated cardboard and packaging solutions ensures the maintenance of high quality standards and cutting-edge technology in this industry.

No negative repercussions for the approximately 300 direct employees and for all indirect employees of the supply chain, who have been able to keep their jobs during the various steps of this acquisition. The process has been conducted with the positive involvement of the trade unions. As a sign of trust of the employees to the new ownership it is worth mentioning that none of them withdrew money from their severance fund, a possibility given to Italian employees.


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