The expenditure on the Metalprint facility, located in Magenta, Italy, amounts to 3% of Guala Closure’s annual turnover.

The group, which currently distributes 8 billion closures to 60 countries across the world, will make the Magenta site its centre of operations for aluminium processing.

According to Guala Closures, the plant will be “the world’s fastest and most modern painting and lithography centre by 2012”, with technology installed expected to “last for 25 years”.

Marco Giovannini, CEO of Guala Closures, said: “The acquisition of Metalprint and investment in new, ultra-modern and environmentally friendly technology will allow us to strengthen our position in the market and ensure we are at the forefront of industry trends on behalf of our customers.”

The move will see the group’s current aluminium plant in Basaluzzo, Italy, close, with jobs – according to the group - transferred to the company’s headquarters.