Important step in the development of the Grifal Group’s European network: thanks to theagreement made with the José Neves Industrial Group, based in Ponte Guimaraes near Porto, the joint venture “Seven cArtù Lda” is born for the production in Portugal of theinnovative cArtù® corrugated board.
The two Groups will operate with equivalent shares: operational, commercial and administrative support will be provided by the José Neves Group, while Grifal, through its subsidiary Tieng Srl, will provide the corrugation lines and know-how for the production of cArtù®.
José Neves Group has been a leader in the packaging industry for 40 years, with significant experience both locally and internationally. The cArtù® production site will be operational during 2023, bringing together expertise and skills in the processing of corrugated paper-based materials.
Statements from Presidents José Neves and Fabio Gritti
“We could have continued to grow organically based on our solid reputation and large customer base in the Portuguese and international markets,” said José Neves, president and founder of the Portuguese Group – Instead, we chose to introduce the virtuous innovation of cArtù® to our market because we believe it is a winner, 100 percent in line with the growing demand for greener products to replace foam plastics.”
For Fabio Gritti, president and CEO of Grifal Group: “The understanding between two distant but similar entities in terms of history, reputation and expertise, located in the heart of Europe and believing in the value of sustainable innovation is the basis of this partnership that will last for a long time generating important shared successes. It will be cArtù’s third production site, following those already built in Italy and Romania and a new step in the development of the European network.”
Investor Relations
The official press release is available in the “Price Sensitive Financial Releases” section of the Investor Relations area of this website.