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Sofidel Presents its Recent $360-Million Investment in Manufacturing Plant in Inola, OK

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Recently, in Washington D.C., Sofidel’s most recent greenfield investment in the US was presented as part of the SelectUSA Investment Summit, the most important event for the promotion of direct foreign investments in the US. The investment will lead to the opening of a new large manufacturing plant in Inola, OK, within two years. 

The final session, promoted by the Secretary of Commerce of the Federal Government, Wilbur Ross, was aimed at showcasing the foreign investments generated in the last year by the program. Sofidel CEO Luigi Lazzareschi was the only entrepreneur on the stage and was introduced by the Governor of Oklahoma, Mary Fallin, who thanked him for Sofidel’s investment in Inola, that has been recognized as a rural economic development success story.

In Inola, about 30 miles from the city of Tulsa, Sofidel will build a new integrated plant combined with the installation of two paper machines for a total production capacity of 120,000 tpy and with the related converting lines for the finished product (toilet paper and paper towels). The manufacturing plant is expected to start running by the end of 2020. The investment will amount to $360 million over three years (2018-2019-2020), resulting in a plant that will combine a focus on sustainability with technological innovation.

"We are proud to be here this year at the SelectUSA Investment Summit to present a major new investment by Sofidel in the United States" said Lazzareschi. "The SelectUSA program represents a valuable tool for us to grow in this market and the summit provides a great opportunity for us to network and increase our visibility. I like to recall that it was at the SelectUSA that Sofidel launched its first greenfield investment overseas, for the construction of the company’s integrated plant in Circleville, Ohio, which we will be inaugurating officially in October."

In Washington D.C., Lazzareschi was also invited to participate as a panelist in a roundtable entitled "Success in the U.S. market", dedicated to investments that the SelectUSA program has made possible to generate over the years. The other panelists were important representatives of the automotive and chemical industries, such as Jason Hoff, president & CEO of Mercedes-Benz US International, and Timothy Madden, COO of Oxiteno’s US activities.

SelectUSA Investment Summit is the highest profile event dedicated to the promotion of direct foreign investments in the United States.  It is an event that is attended by presidents of the United States, federal government representatives, governors and key players in the economy. SelectUSA has facilitated more than $30 billion in greenfield foreign direct investment (FDI) into US since its inception.

In the 2016 edition of the event, the former President of the United States Barack Obama referred to Sofidel as one of the companies most capable of seizing the opportunities offered by SelectUSA.
 
The Sofidel Group is one of the leading manufacturer of paper for hygienic and domestic use worldwide. Established in 1966, the Group has subsidiaries in 13 countries Italy, Spain, the UK, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania, Turkey and the US - with more than 6,000 employees, net sales of 1,724 million Euros (2017) and a production capacity of over one million mtpy (1,098,000 mtpy in 2017). Regina, its most well-known brand, is present on almost all the reference markets. Other brands include: Softis, Le Trèfle, Sopalin,  Nouvelle, Thirst Pockets, KittenSoft, Nalys, Cosynel, Yumy, Soft & Easy, Volare, Onda, Lycke, Forest, Nicky, Papernet. A member of UN Global Compact and the international WWF Climate Savers programme, the Sofidel Group considers sustainability a strategic factor with regards to growth and is committed to promoting socially and environmentally responsible development.
 

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