Stoelzle Masnieres Parfumerie (STM) has successfully completed a financial restructuring which was necessary after the effects of the Covid crisis and the explosion of energy and material costs. Fresh capital injection from the Austrian shareholder and in part from the French North Region, together with support from the State and the banks to accept a significant reduction of financial debt, assure the company begins 2023 with a stronger balance sheet and enhanced financial resources.

STM has also reinforced the organisation with the professional staff taking on enlarged responsibilities; Corrado Ferrozzi, until now Managing Director of the Industrial part of STM, has been promoted to General Manager of STM and Stoelzle Masnieres Decoration (STD). Chairman of the two entities and representative of the Shareholder is Paolo Antonietti Gemma, who is Supervisory Board director of the Stoelzle Group.

Etienne Gruyez after eight years at STM and having been managing the Company as Président-Directeur Général for the last five years, has decided to look for new professional challenges and will leave Stoelzle in the coming weeks. With great gratitude for the work done, the entire Company wishes to him all the best for the future.

Regarding the future of STM, sustainability will remain the focus and the driver for innovation. We will continue promoting new products such as the Perpétuel refillable jar launched mid-2022 and carry on with the increase of PCR glass rate and the reduction of CO2 emissions.

www.stoelzle.com