Packaging, the La Veggia box factory “sheltered” with the Austrian group Prinzhorn
Il Prinzhorn group presented a purchase proposal, as part of a restructuring process of an arrangement with creditors on a going concern basis, of the Box factory La Veggia SpA (“SLV”)historical company of Roteglia di Castellarano, in the province of Reggio Emilia, specialized in production of corrugated cardboard packaging.
The takeover by the Prinzhorn Group, on the one hand, it would save more than 150 jobs in the historic box factory of Castellarano and, on the other hand, would allow the Prinzhorn Group to enter andintegration into the Italian corrugated board market, the second largest in Europe, in which Prinzhorn expects to make significant investments for business and employment development.
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Last July 4, 2023, the Court of Reggio Emilia approved the approval of the composition with creditors procedure, with the favorable report of the Judicial Commissioner, Dr. Silvio Facco, on the basis of the investment proposal formulated by the Prinzhorn Group.
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