Giovanni Canetta replaces Carlo Ranucci as MD and CEO of the Treofan Group

Raunheim, (PresseBox) - Carlo Ranucci has stepped down as Managing Director of the Treofan Group for personal reasons, after reaching agreement with shareholders.

Carlo Ranucci will ensure a smooth transition of his functions in the best interest of the company. The Advisory Board has appointed Giovanni Canetta as new Managing Director and CEO of the Treofan Group; Giovanni Canetta has been closely working with Carlo Ranucci in the past two years as representative of Management & Capitali SpA, one of Treofan's major shareholders.

"We thank Carlo for the excellent work performed during the past years", said Stefan Pfander, Chairman of the Advisory Board.

"I see a great future for the company and am convinced that the management team will continue to translate Treofan's superior technology into long-term success in the marketplace."

Carlo Ranucci successfully managed the company through the crisis and was instrumental in restructuring it; under his leadership, the company has become the market leader in the global BOPP high-end market.

Treofan Germany GmbH & Co KG

The Treofan Group, headquartered in Raunheim, Germany, develops, manufactures and markets biaxially oriented polypropylene film (BOPP) under the brand name Treofan®. With more than 40 years of experience in global markets, Treofan markets its products in more than 90 countries, manufacturing some 200,000 tons of film a year at four sites in Europe and America.

Treofan offers its customers a consistent, high quality array of technologically advanced film products through a global manufacturing and distribution network. As an industry leader in research and development, Treofan offers one of the broadest product lines for food packaging, non-food packaging, labels and advanced technical applications in its industry globally.

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