Finest Spa, the financial
institution for the internationalization of businesses in Friuli
Venezia Giulia, Veneto, and Trentino Alto Adige, has announced a
new investment. The firm supported Padua-based Ciotola Srl, a
company specializing in specialty, security, and packaging
papers, in acquiring a 75% majority stake in SPM Security Papers
Sro, a paper mill in the Czech Republic. According to Finest and
its partner in the operation, Confidi Friuli, this move bolsters
Ciotola's regional production footprint.
Founded and managed by the Ciotola family for over 30 years,
the Veneto company channels approximately 80% of its revenue
from international markets. It operates across diverse sectors,
from packaging and food-grade papers to self-adhesive materials
and security papers and components for central banks, state
printing offices, mints, and private security printers.
"The acquisition of SPM Security Papers S.r.o. in the Czech
Republic has been pivotal both for expanding our product range
and increasing market share in Italy and abroad," said Salvatore
Ciotola, CEO of Ciotola Srl. "Through this paper mill, we can
now access the public tender market, primarily involving state
printing offices and central banks. Thanks to Finest's support,"
Ciotola added, "we will also channel new investments into the
production plant, focusing on efficiency, productivity, and
sustainability."
Finest financed Ciotola's international investment plan by
subscribing to debt securities, 50% of which are guaranteed by
Confidi Friuli.
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