Lucart obtains €101.4m loan to invest in circular economy

Italian tissue manufacturer Lucart has obtained a loan of €101.4m to invest in the growth and support of the circular economy.

The company has benefited from a grant from a group of institutions made up of UniCredit, BNL BNP Paribas, Banco BPM, BPER Banca, Crédit Agricole Italia, Intesa Sanpaolo-IMI Corporate & Investment Banking Division and MPS Capital Services. The operation is assisted by the SACE Guarantee.

The duration is six years and is divided into four loans, two of which are sustainability-linked due to the introduction of sustainability objectives agreed with the two sustainability coordinators. Among the objectives identified there are issues that are relevant for Lucart and for the tissue market, such as the reduction of water consumption and waste recovery.

Lucart said the sum available is intended to support and give continuity to investments in support of the circular economy and the implementation, in the production chain, of plants and machinery with greater efficiency of water and energy resources.

Andrea Fano, Lucart’s Chief Financial Officer, said: “Sustainability is the element that inspires our innovations and relationships with our stakeholders.

“We are therefore happy to see how our path is followed and supported by the most important credit institutions that appreciate our business model and our determined approach to optimising the use of raw materials and reducing waste by transforming them into new resources.

“The loan obtained is part of a process of strengthening the Lucart Group’s capital structure to support the ambitious growth plan envisaged by our strategic plan.”