Lecta is the largest coated wood-free paper manufacturer in southern Europe (consisting primarily of Spain, Portugal, France and Italy) with an annual production capacity of 1,340,000 metric tons, as at December 2008. The company is also one of the leading manufacturers of specialty papers in Europe, with an annual production capacity of 220,000 metric tons.
The company consists of three wood-free and speciality paper producers which CVC Funds bought separately in three stages. The group’s customers are mostly paper merchants, printers or publishers. Lecta’s products are typically used for quality applications such as glossy magazines, catalogues, company reports and business stationery. In Europe, Lecta’s products are sold principally inter alia in Spain, Italy, France, Portugal, UK, and the US. The majority of Lecta’s 3,900 employees are involved in the production facilities located in Italy, France and Spain.
During 2009, the company achieved total revenues of €1,380 million. The majority of Lecta’s 3,900 employees are involved in the production facilities located in Italy, France and Spain.
The efficiency programme launched in 2007 is now nearing completion. In 2009, Lecta’s cost efficiency, coupled with a weak pulp market, allowed the company to offset the impact of the volume contraction that hit our industry and resulted in an EBITDA and cash-flow performance well ahead of previous year.