Fedrigoni, manufacturer of paper, completed the acquisition of a 70% stake in packaging products business of Tecnoform, a company specialized in the production of trays, displays and internal elements for packaging. Financial terms were not disclosed. “The agreement with Tecnoform is a new milestone on the path towards innovation to offer the market higher performing paper replacements for plastic. This is one of the main strands of our sustainability policy for which we have set challenging objectives for 2030. The luxury packaging sector is extremely relevant to us and we believe we can make the difference in guiding it, on a global level, towards environmentally friendly solutions, thanks to the know-how acquired so far, the synergies with the other activities in our ecosystem and the possibility of globalising business, expanding it from Europe to America and Asia,” Marco Nespolo, Fedrigoni Group CEO.