St Cuthberts Mill

PRESS RELEASE

St Cuthberts Paper Mill acquired by F.I.L.A. of Italy

St Cuthberts Paper Mill has been acquired by Fabbrica Italiana Lapis ed Affini (“F.I.L.A.”) who is based in Milan and listed on the STAR segment of the Milan Stock Exchange.

With revenues of over €275 million in 2015, F.I.L.A. has grown substantially over the  past twenty years through strategic acquisitions and operates through  14 production facilities  (of which two are in Italy) a nd 32  subsidiaries  around the  world.  F.I.L.A.  is an icon of  Italian creativity globally  through its colouring, drawing, modelling, writing and painting tools, thanks to brands such as Giotto, Tratto, Das, Dido, Pongo, Lyra, Dooms, Maimeri and Daler.

St Cuthberts Mill (SCM) operates through its "Mill” production facility in Wells in Somerset and has had a long tradition of producing some  of the world’s finest watercolour,  print and digital  papers sold internationally to a wide range of longstanding loyal customers. The Mill benefits from  an enviable reputation for the quality of its products and the integrity of its customer service levels.

The sale follows F.I.L.A.’s exclusive agreement to purchase  Canson  (a  world  leading French distributor of paper to more than 100 countries) in October this year. The sale is a logical transfer of ownership into the F.I.L.A. family where SCM will be allowed to grow and expand its activities in an environment which, in technological and product terms, is more suited than its present ownership structure.

The sale after a period of profitable growth and successful investment in new plant and equipment is viewed as in the best interests of all parties including the Mill’s employees who will relish the new expansion  challenges  they face  in the  future.

There are significant opportunities  for growth  in the business which will continue under its present senior management to export to most of the 50 countries which F.I.L.A. sells into.

SCM has expanded its sales activities in recent times in the  Far East and  United States and  remain the leading supplier of watercolour papers in the UK. F.I.L.A.’s ambition and support will permit penetration into new territories via expanded sales and diversification of the products to be manufactured within the production capabilities in Wells.

Alan Walker, SCM’s Managing Director commented:

“We welcome F.I.L.A. as the new owners of this highly successful business. The long traditions of quality and service will continue into the future to an expanded audience all aver the world. My team has worked hard and deserve the opportunity to join F.I.L.A. whose leadership credentials are demonstrated on a globol basis. We all look forward to the challenges we will face  as we expand our horizons”.

For further information or enquiries please contact:

Alan Walker

Managing  Director

St Cuthberts Mill Limited Tel office: 01749 672015

Mobile: 07800 951151

Massimo  Candela Chief Executive Officer F.I.L.A.

Tel office: 00 39 335 645 0107

14th September 2016