Lucart obtains €101 million loan to invest in circular economy
The amount made available will also be used to implement facilities and machines with greater efficiency in terms of water and energy resources
Lucart recently announced that it has obtained a loan of 101.4 million euros to invest in supporting the circular economy. The Italian paper manufacturer, known for the brands Tenderly and Lucart Professional, benefited from a subsidy from a group of institutions constituted by UniCredit (in the role of global coordinator and inter-creditor agent).
The SACE Guarantee, granted by the banks UniCredit and Intesa Sanpaolo, helps the operation to support the growth plans of Italian companies. Divided into four loans, the operation lasts for six years, two of which are linked to sustainability thanks to the introduction of objectives agreed with the two sustainability coordinators. The targets include issues relevant to Lucart and the paper industry, also in light of the Italian National Plan for Recovery and Resilience (PNRR), such as reducing water consumption and valuing waste.
The amount made available will be used to continue investments in support of the circular economy and the implementation, in the production chain, of facilities and machines with greater efficiency of water and energy resources.
“Sustainability is the element that inspires our innovations and relationships with our stakeholders,” said Andrea Fano, Chief Financial Officer of Lucart. “We are therefore happy to see how our path is followed and supported by the most important institutions and credit institutions that value our model business and our determined approach to optimizing the use of raw materials and reducing waste, transforming them into new resources. The loan obtained is part of a process of strengthening the group’s capital structure to support the ambitious growth plan foreseen in our strategic plan”.
