Cartiere Paolo Pigna, the Italian based parent company of Rilecart Binding Supplies, has a new owner and management structure, following nearly two years of negotiation.
Alan King, director, Rilecart Binding Supplies in Australia, says, “This will not have any implications for Rilecart Binding Supplies Australia. The issue for us has been the constant sniping and so on with our competitors wanting our parent company’s problems to transfer to us. Pigna is a big company, established in the 1800s, so it was a surprise to find it in trouble.
“From our point of view, after a difficult two-year period we are pleased it is resolved, and we can get on the business of sales.”
The involvement of a significant white knight investor in the form of the high profile De Agostini Group has seen them take a 51 per cent interest in Pigna, with the remaining 49 per cent held by interests associated with former CEO Giorgio Jannone, who remains a board member.
De Agostoni has multiple businesses in the media and communication fields, it has bene operating since 1901.
Rilecart manufacturing and distribution operations centred in Bergamo Italy, remain a standalone subsidiary of Pigna with the company reporting they are operating successfully under the new structure and management.
Pigna Australia, trading as Rilecart Binding Supplies, says it continues to remain a major player in the market for double loop wire binding and plastic coil binding across machinery, spare parts and consumables.
Rilecart products have been sold in Australia since 1990, with Rilecart Binding Supplies being established in 2003 by director Alan King and currently managed by industry identities Gary Disney and Albert McLaughlin.
King says, "With excellent, well established supply lines both from Italy and through our Singapore office our product range is both competitive and expanding. We are looking forward to the future.”
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