(Alliance News) - The following stocks are the best and worst performers on Italy Growth on Wednesday afternoon in Piazza Affari.

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WINNERS

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Grifal rises 17 percent to EUR2.60 per share and takes the top spot. The company announced that it has reached an agreement with José Neves Group to produce cArtù-branded corrugated cardboard in Portugal through the joint venture Seven cArtù Lda.

Operational, commercial and administrative support will be provided by José Neves Group while Grifal, through its subsidiary Tieng Srl, will provide the corrugating lines and know-how for the production of cArtù. Grifal will also obtain royalties on sales made by the newco.

The cArtù production site will be operational during 2023 in Ponte Guimares in close proximity to the production site of the José Neves Group, so as to share its expertise and capabilities in the processing of paper-based corrugated materials.

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LOSERS

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Illa goes to the bottom, down 20 percent. The stock over the past year has lost 99%.

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Also in the red is Fenix, down 8.1%. The company announced Tuesday that on January 9, 2023, an agreement was signed with the U.S. company ClaRo Productions for a first major international film whose shooting will begin in Rome on March 1.

This is a co-production deal for the film "Here After," which will see Roberto Salerno make his directorial debut.

The film will have a budget of about EUR8 million and will shoot for five weeks. Fenix's financial commitment is EUR2 million.

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By Claudia Cavaliere, Alliance News reporter

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