Friday, April 12, 2024
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The EGGER Group successfully acquired a majority stake in the Italian recycling company Cartfer Urbania S.r.l. The purchase agreement was concluded on March 27 2024.
The EGGER Group, a notable player in the woodworking industry, has recently acquired 60% of shares in Cartfer Urbania S.r.l., a recycling company based in Urbania, Italy. This area is strategically located in the Marche region, which is central to the Italian furniture sector. This acquisition extends EGGER’s existing international network of recycling sites, operated under the Timberpak brand. This move establishes the groundwork for Italy’s inaugural recycling collection site within the company’s network. By enhancing its group-wide collection infrastructure and processes for recycled wood, EGGER reinforces its strategic initiatives to increase the use of recycled materials and to secure a sustainable supply of raw materials through backward integration.
On March 27 2024, EGGER acquired a majority stake in the Italian recycling company Cartfer Urbania S.r.l. The previous owner Sara Burani will remain part of the company management. The experienced team of 8 employees will be taken over. The parties have agreed not to disclose the purchase price and further details of the transaction.
“Italy has an excellent recycling system. We can benefit greatly from this know-how thanks to our majority investment in Cartfer Urbania and the great expertise of its workforce. Our chipboard plant in Caorso (IT) uses 100% recycled wood. We can now make the valuable resource that is recycled wood even more readily available for our production in that location,” says Giuseppe Conti, Plant Manager Finance/Administration at the Caorso plant, emphasising the strategic contribution of the majority stake.
Established in 2017, Cartfer Urbania specializes in recycling and has been a crucial supplier for over five years to SAIB, a prominent Italian manufacturer of wood-based materials located in Caorso, now a part of the EGGER Group as of December 2022. This collaboration, significant within the woodworking industry, is set to intensify further, reflecting a strong and evolving partnership.
The Cartfer Urbania site also offers scope for future expansion investments. “I am proud that Cartfer Urbania has joined the large EGGER family. This important step will allow our company to grow faster and to be able to face the upcoming challenges with more solidity. It is a great growth opportunity for all of us”, comments Sara Burani, co-owner of Cartfer Urbania, on the mutual chances.
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Tags: Cartfer Urbania, egger, EGGER Group, wood and panel, woodworking, woodworking and manufacturing, woodworking and processing, woodworking industry, woodworking UK
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