(Sept. 5) – The area of expertise may raise a smile but the “tissue sector” – as it is called in financial headquarters – is growing. For those not involved economically, instead, it will be easier to talk about paper handkerchiefs, kitchen towels and toilet paper. And Sofidel, major player in Italy, with a production capacity of 1,000,000 tons per year, enters the U.S. market by announcing the acquisition of the U.S. company Cellynne Holdings Inc. Founded in 1988, with its Head Office in Haines City (Florida), Cellynne Holdings Inc. is a producer of tissue paper (for hygienic and domestic use) and has over 300 employees and three production sites, strategically located in the United States: its Head Office is located at its Haines City site (Florida), with two additional converting sites located in Green Bay (Wisconsin) and Henderson (Nevada). It has an overall production capacity of 70,000 metric tons per year. With this acquisition, Sofidel, Europe’s second biggest paper tissue producer, now has access both to a new continent and the particularly challenging US market. The decision is consistent with its policy aiming at international growth and innovation; a strategy that began at the end of the 1990s. “This is an important step in the Group’s international growth strategy”, said Sofidel’s CEO, Luigi Lazzareschi. “It raises the Group’s overall production capacity to over 1,000,000 metric tpy and marks its entry into the US market. This is a strategic investment that we hope will further strengthen our competitiveness and growth, by entering such a market that is full of opportunities”.
