BOLOGNA, ITALY (Jan. 13, 10 a.m. ET) — Italy's ILPA srl, a manufacturer of thermoformed food packaging and disposable tableware, has signed an agreement for the leased management of AMP Films & Packaging in Ferrara, Italy.
Thanks to the agreement, a new company AMP Recycling, controlled 100 percent by ILPA, will lease the Ferrara-based company, which has been undergoing a difficult time during the past two years.
The operation, which is expected to attract an investment of around 2 million euros ($2.55 million) over two years time, will allow the group to integrate AMP's facilities and post-consumer PET washing and recycling system into its own production processes.
“In terms of employment, we will be reinstating 44 jobs immediately and we plan to reinstate a total of 59 by the time the foreseen interventions are completed,” said Riccardo Pianesani, legal representative of Bologna-based ILPA. “Our goal for the end of the 42-month lease is to finalize the acquisition of the company.”