Stoelzle Masnières Parfumerie, a renewal for 2023

Stoelzle Masnieres Parfumerie (STM), a leading glassmaker specializing in the production of bottles for perfumes, cosmetics and high-end spirits, has announced the successful completion of its financial restructuring, paving the way for a new beginning in 2023.
After having been severely affected by the Covid crisis and the explosion in energy and materials costs, this restructuring operation had become a major and necessary challenge for business continuity.
The injection of fresh capital by the Austrian shareholder and in part by the Hauts-De-France region, as well as the support of the French government and banks through a significant reduction in financial debt, mean that STM can look to the future with a clean balance sheet and increased financial resources. All this will help to sustain the company's growth, secure jobs at our industrial site and ensure the long-term development of our market-renowned know-how.
The shareholder would particularly like to thank the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, and the Presidency of the Hauts-De-France Region, which have contributed so much to consolidating Stoelzle Masnieres' financial situation and to its future development.
The company is also delighted to announce an exceptional order intake from prestigious customers in the perfumery and spirits industries, who have given STM their preference because of the quality of the glass bottles and flasks produced by STM, its talent for innovation, its proactive response to market requirements, and the significant level of investment made even during the crisis to better meet growing demand.
STM also announces a strengthening of its organization with the recent recruitment of new highly qualified professionals in several functions, as well as the extension of the responsibilities delegated to Corrado Ferrozzi, until now Managing Director of the industrial part of STM, who has been promoted to Managing Director of both STM and Stoelzle Masnieres Decoration (STD). The Chairman of the 2 entities and representative of the shareholder is Paolo Antonietti Gemma, who is Director of the Board of Directors of the Stoelzle Group.
Etienne Gruyez, after 8 years with STM and having led the company as CEO for the last 5 years, has decided to leave Stoelzle in the coming weeks in search of new professional challenges. With great gratitude for the work he has accomplished, the whole company wishes him all the best for the future.
As far as STM's future is concerned, sustainability will always be the driving force behind our innovations. We will continue to promote our refillable Le Perpétuel pot, launched last June, as well as working on increasing the PCR glass content and reducing CO2 emissions.