We are delighted to announce that we have signed an agreement to acquire the security business of Fedrigoni S.p.A. – based in Milan, Italy.
This acquisition furthers Portals commitment to the currency market following over €25m of investment in the banknote paper operations in the last few years.
As the largest volume supplier of security threads in the banknote industry, Fedrigoni’s security business has a solid portfolio of security threads and holograms with large volume customers throughout the world. Our intention is to invest in an integrated innovation strategy focused on increased security and durability for currency and passport substrate applications.
The acquisition of Fedrigoni’s security thread and foil business will mark a major step forward in Portals’ strategy to bring improved innovation and value to our customers for banknote, passport and security papers.
Ross Holliday, Chief Executive at Portals
We have also agreed the option to acquire certain banknote paper and security paper assets from Fedrigoni’s security division when current supply contracts have been fulfilled.
The completion of these two separate transactions is expected to occur during the course of 2021, following customary approvals.
More information on the details of this transaction can be found in the Joint Press Release issued by Portals and Fedrigoni.