Relocation of Paper Mill Project from Italy to Morocco

Edama Investment Company, through its subsidiary Massira Paper Mills, is advancing a landmark project in sustainable packaging paper. Established in 2022, Massira Paper Mills acquired the historic Cadidavid Paper Mill in Verona, Italy, with the vision of transforming it into a modern, environment-friendly facility. The mill had been idle since 2018 due to environmental regulations and operational inefficiencies, which ultimately led to bankruptcy. After acquiring the assets through a court auction, Edama re-envisioned the project as a hub for sustainable, recycled paper production. Following a comprehensive cost-benefit analysis, the strategic decision was made to relocate the plant and machinery from Italy to Morocco, unlocking greater value creation and long-term sustainability. Progress Update - The dismantling of equipment in Italy is currently underway, while civil works have begun at the new site in Open Zone K�nitra, Morocco. Future Outlook - Once operational, the new AlMassira Paper Mill will produce 120,000 tons annually of Test Liner and Fluting Paper using eco-friendly, recycled methods. Designed with advanced corrugated paper technology, renewable energy, and energy-efficient operations, the facility will set new benchmarks in quality, sustainability, and innovation for both local and international markets. Commissioning is planned for 2026, marking a major milestone in Edama�s mission to drive innovation, sustainable growth, and industrial leadership in the region.