Treofan completes sale of Lamezia plant

Treofan Group, producer of high performance BOPP films, has completed the sale of its production site and assets in Lamezia (Catanzaro, Italy) to local investors, booking a cash effect of around 2 million euro. The plant produced CPP and was thus not in line with the company's focus on high performance BOPP, labels and specialty packaging, technical films and tobacco films. The decision to sell the Lamezia plant was originally taken in August 2008. In mid-December 2009, Treofan signed sale agreements with two local investors, who acquired the plant machinery and the real estate respectively. Some of the employees have already found new jobs, while the remaining employees will benefit from a social plan agreed with all stakeholders.