Moplefan SpA (Via Taramelli 26, I-20124 Milano), a company of the Montell group (HQ: Montell Polyolefins bv, PO Box 625, NL-2130 AP Hoofddorp) and Tecno Jolly SpA (Via Raspini 3, I-10036 Settimo Torinese) announce they have signed a letter of intent for Tecno Jolly to acquire the flexible film conversion business of Moplefan which is located at its Terni, Italy, site. The final agreement is subject to the completing of due diligence and other administrative procedures currently under way. The increased conversion capabilities of the Tecno Jolly / Converter / Akerlund and Rausing Group will be utilised mainly to enhance the penetration in the international markets.

With its recent start up of the new plant in Pont St. Martin, Italy, and with the expected acquisition of the Terni unit, the Tecno Jolly / Converter Group confirms its leading position in the flexible packaging conversion market, and will have a total turnover of about 120bn Lire and will employ 280 people. Moplefan is one of the leading producers of biaxially oriented (BOPP) and cast polypropylene films in Europe. It operates production facilities at five sites in Europe and will continue to concentrate on its core film business with a programme of additional capacity expansions to serve the flexible packaging market growth. Construction of Moplefan's new BOPP line at Battipaglia, Italy, is currently under way with start up planned for July of this year. The line will have capacity for 24,000 t/y of film.