Treofan agrees sale of Liège operation

The Treofan Group, a manufacturer of BOPP film, has agreed the sale of Treofan Benelux to Crystal Amaranth. Treofan Benelux owns a production site in Liège, Belgium, with around 100 employees. Luxemburg-based Crystal Amaranth is controlled by Gabriel Catania, and Rens Korevaar, respectively former senior executive and senior manager of ExxonMobil Chemical Films Europe. No financial details were disclosed.  

‘The sale helps us focus our business more sharply on specialty BOPP film, and is thus a logical step in our overall long-term strategy,’ said Carlo Ranucci, CEO of the Treofan Group. ‘This deal puts the Belgian asset into expert hands and helps secure the future of the Liège site.’  

After the transaction, Treofan will maintain close ties with the Belgian company through a ‘tolling’ agreement for the production of up to 20,000 tons of BOPP film per annum and a distribution agreement for certain Treofan products.  

‘We are delighted to have agreed this deal and look forward to a productive partnership with Treofan in the years to come,’ said Gabriel Catania of Crystal Amaranth.  

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