CHINA
GIMA TT has signed in an agreement with Shanghai Tobacco Machinery Co. Ltd. to supply lines for the packaging of cigarettes.
The agreement completes a journey that began in 2017 with the recognition of GIMA TT as a supplier certified by the Chinese government to provide for the supply of complete lines for packaging of conventional products. The expected counter value is approximately €80 million with deliveries in the next few years with the possibility of evolving into further projects dedicated to the new-generation of low-risk products.
Commenting on the agreement, managing director Fiorenzo Draghetti and general manager Stefano Cavallari, said, “This contract is the first milestone [for us] in the Chinese market and rewards our willingness to enter this very important geographic area. China is the world’s largest market for tobacco consumption and offers equally significant potential in the development of new generation products, our specialization area.”
“This first project is extremely relevant as it represents access to the future supply of packaging lines not only for conventional cigarettes but especially for new generation products. The competitive advantages that characterize our technology have been recognized by Chinese customers and confirm the ability of GIMA TT to continue to create innovation and value.”