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euroformaggi e c. spa

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uuid02mm6t1

Namestring
euroformaggi e c. spa
Legal namestring
Euroformaggi E. C. Spa
Websiteurl
euroformaggi.it
Company typeenum
Private
Founded yearint
1989
Descriptiontext

Euroformaggi E. C. Spa is a privately held Italian cheese processing and packaging company headquartered in Valeggio sul Mincio, Verona. Founded in 1989 as a cheese wholesaler, the company specialized in pre-packaging in 1994 and now operates six automated packaging lines within a 1,255 sqm processing facility, supplemented by a climate-controlled aging warehouse built in 2001 for Grana Padano DOP cheese. Its product portfolio spans Formaggi DOP (Grana Padano, Parmigiano Reggiano, Asiago, Montasio, Pecorino Romano, Provolone Valpadana), Formaggi Nazionali (Tomino, Provolone), Formaggi Esteri (Emmental, Gouda, Maasdam, Fontal), Grattugiati (grated cheeses), and Burro e Mascarpone. The company holds BRCGS-IFS food safety certifications and is registered as an Italian S.p.A. with fully paid share capital of €2,000,000.

Euroformaggi operates a B2B go-to-market model, supplying major Italian retail chains (grande distribuzione organizzata) with portioned, packaged, and private-label cheese products, and additionally participates in AGEA national and European tenders for supply of pre-packaged DOP cheeses to Italian charitable organizations. The company provides in-house custom branding (primary and secondary packaging), dedicated aging services for Grana Padano and Parmigiano Reggiano (including for third-party owners), and third-party processing (lavorazione conto terzi). Deliveries are made throughout Italy from the Valeggio sul Mincio site, which is positioned at the commercial crossroads of Lombardy, Veneto, and Trentino — at the heart of Grana Padano production. Revenue is generated through wholesale product sales with no public pricing or subscription model disclosed.

The underlying technology is conventional industrial food processing: fixed-weight packaging equipment capable of producing portion-controlled formats of any size, automated production lines, and a humidity- and temperature-regulated aging facility. The business model is asset-intensive and operationally straightforward — purchase raw cheese, age, portion, package, and distribute — with competitive positioning resting on certifications, geographic proximity to raw supply, scale across six lines, and integrated custom-branding capability rather than on proprietary technology or software.

Short descriptiontext

Euroformaggi E. C. Spa is an Italian cheese processor and packager, founded 1989, that portions, ages, and packages DOP, national, and foreign cheeses across six automated lines for major Italian retail chains and AGEA charitable tenders, operating from a single Valeggio sul Mincio facility with BRCGS-IFS certification.

Operating statusenum
Operating
Ownership categoryenum
akta.pro rankint
HeadquartersValeggio sul Mincio, Italy
HQ citystring
Valeggio sul Mincio
HQ countrystring
Italy
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
cheese packaging, dairy distribution, DOP cheese processing, private label cheese, cheese portioning
Industry4 codes
1Cheese Packaging & Portioning (Retail Packs, Snack Packs, Singles)
CodeAFAHABAIPrimaryYes
2Cheese Aging/Affineur Services (Maturation & Cave-Aging)
CodeAFAHABAHPrimaryNo
3Private Label & Contract Cheese Manufacturing
CodeAFAHABAJPrimaryNo
4Cheese Manufacturing
CodeAFAKAKABPrimaryNo
NAICS code2 codes
  • Cheese Manufacturing311513
  • Dairy Product (except Frozen) Manufacturing31151
SIC code2 codes
  • Dairy Products2020
  • Food And Kindred Products2000
Product category
Cheese Processing and Distribution
No data
GTM motion2 records

Each record includes

Type, Description, Source

Revenue model1 record
1Cheese product sales
TypeHardware Sales
Description

Euroformaggi purchases cheese directly from producers, processes it through packaging and aging, and sells to major retail chains and other customers. The company operates on a wholesale B2B model, selling packaged cheese products in various formats.

euroformaggi.it
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
GTM typeB2B
B2B
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

Euroformaggi purchases cheese directly from producers and processes, portions, ages, and packages it through six automated packaging lines and a climate-controlled aging warehouse. The company sells packaged DOP, national, and foreign cheeses (including Grana Padano, Parmigiano Reggiano, Provolone, Asiago, Montasio, Pecorino Romano, Emmental, Gouda, Maasdam), grated cheeses, butter, and mascarpone to major Italian retail chains and charitable organizations. It also offers custom private-label branding, third-party processing, and cheese aging services.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Euroformaggi E. C. Spa is a cheese packaging and distribution company operating since 1994, specializing in portioning and packaging of DOP, national, and foreign cheeses. The company offers a portfolio of cheese products including Formaggi DOP (Grana Padano, Parmigiano Reggiano, Asiago, Montasio, Pecorino Romano), Formaggi Nazionali (Tomino, Provolone), Grattugiati (grated cheeses), Formaggi Esteri (Emmental, Gouda, Maasdam), and Burro e Mascarpone. Alongside product sales, Euroformaggi provides complementary services including Brandizzazione (custom packaging development), Qualità certificata (certified quality assurance), Magazzino stagionatura (cheese aging facilities), and Lavorazione conto terzi (third-party processing).

Product and service10 records
1Formaggi DOP (DOP Cheeses)
CategoryDOP Cheese Products
Description

Protected Designation of Origin (DOP) cheeses including Grana Padano, Parmigiano Reggiano, Provolone Valpadana, Asiago, Montasio, and Pecorino Romano, sold as whole wheels, portioned in various formats, or grated, for retail chains and food industry customers.

2Grana Padano (Pre-packaged)
CategoryDOP Cheese Products
Description

Pre-packaged Grana Padano DOP cheese made from cow's milk, semi-fat, hard pasta, cooked and slow-matured, finely granular with small evenly distributed holes, available in approximately 400g portions for retail sale.

3Formaggi Nazionali (National Cheeses)
CategoryNational Cheese Products
Description

Italian national cheeses including Tomino and Provolone (dolce and piccante), packaged in various formats for retail distribution.

4Grattugiati (Grated Cheeses)
CategoryGrated Cheese Products
Description

Grated cheese products including Grana Padano, Parmigiano Reggiano, and mixed cheese blends, packaged for retail sale.

5Formaggi Esteri (Foreign Cheeses)
CategoryImported Cheese Products
Description

Foreign cheeses including Emmental, Fontal, Gouda, and Maasdam, packaged in various sizes for Italian retail distribution.

6Burro e Mascarpone (Butter and Mascarpone)
CategoryDairy Products
Description

Butter and mascarpone dairy products of high quality, including Burro i Valeggiani made from sweet cream of pasteurized milk weighing 500g, for retail distribution.

7Brandizzazione (Custom Private-Label Branding)
CategoryPackaging Services
Description

In-house development of primary and secondary packaging with personalized customer branding, providing complete private-label packaging solutions for retail and food service clients.

8Qualità Certificata (Certified Quality Assurance)
CategoryQuality Assurance Services
Description

Quality assurance service certified under BRCGS-IFS voluntary standards, ensuring safety and wholesomeness of supplied products with controls on raw materials, packaging lines, and finished products.

9Magazzino di Stagionatura (Cheese Aging Warehouse)
CategoryCheese Aging Services
Description

Climate-controlled aging warehouse service for Grana Padano DOP cheese wheels, with automatic temperature and humidity control, available for proprietary and third-party aging.

10Lavorazione Conto Terzi (Third-Party Processing)
CategoryContract Processing Services
Description

Third-party cheese processing and packaging service including pre-packaged DOP cheese supply for Italian charitable organizations through AGEA tenders, plus development of new packaging solutions for client companies.

Scale indicator5 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
Strategic tierMinorTypeOthers
Description

Euroformaggi collaborates with companies operating in the market for supplies of pre-packaged DOP cheeses destined for Italian charitable entities through national and European AGEA tenders.

Recent move7 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
1Granarolo
TypeDirect peer
Description

One of Italy's largest dairy companies, producing and packaging a broad range of cheeses, butter, and dairy products for Italian retail and foodservice — directly comparable in DOP cheese production and B2B retail supply.

TypeDirect peer
Description

Italian dairy cooperative producing Grana Padano and other cheeses with significant packaging operations; closely comparable in DOP cheese production, portioning, and retail supply model.

TypeDirect peer
Description

Italian cheese manufacturer and packager specializing in Grana Padano, Parmigiano Reggiano, and other DOP cheeses for retail and export — overlapping product mix and packaging-driven B2B model.

TypeBroad incumbent
Description

Italian subsidiary of global dairy giant Lactalis, offering a broad portfolio of packaged cheeses including Galbani and Parmalat brands; a much larger incumbent operating in the same cheese packaging and retail supply space.

TypeDirect peer
Description

Italian dairy group focused on Parmigiano Reggiano and Grana Padano packaging and distribution; similar product focus on DOP cheeses with established retail and foodservice channels.

6Bel Group
TypeBroad incumbent
Description

Global branded cheese company (Laughing Cow, Babybel) with significant European cheese manufacturing and packaging operations; broader portfolio but directly overlapping in cheese processing and retail distribution.

TypeBroad incumbent
Description

Global dairy processor with substantial European cheese operations; comparable as a large-scale cheese manufacturer and packager serving retail chains.

TypeBroad incumbent
Description

French-headquartered specialty cheese group with broad European cheese manufacturing, aging, and packaging operations; comparable in the aging/affinage and packaged cheese category.

TypeRegional player
Description

South Tyrolean dairy cooperative producing and packaging regional cheeses; comparable product focus and B2B retail model but primarily serving the Trentino-Alto Adige region.

10Flli Gennaro
TypeEmerging player
Description

Italian dairy company producing traditional Italian cheeses and packaged formats for retail; a smaller, more regional player with overlapping cheese packaging capabilities.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers2 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature4 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance2 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

euroformaggi e c. spa

Cheese Processing and Distributioneuroformaggi.it

Euroformaggi E. C. Spa is an Italian cheese processor and packager, founded 1989, that portions, ages, and packages DOP, national, and foreign cheeses across six automated lines for major Italian retail chains and AGEA charitable tenders, operating from a single Valeggio sul Mincio facility with BRCGS-IFS certification.

What euroformaggi e c. spa does

Euroformaggi E. C. Spa is a privately held Italian cheese processing and packaging company headquartered in Valeggio sul Mincio, Verona. Founded in 1989 as a cheese wholesaler, the company specialized in pre-packaging in 1994 and now operates six automated packaging lines within a 1,255 sqm processing facility, supplemented by a climate-controlled aging warehouse built in 2001 for Grana Padano DOP cheese. Its product portfolio spans Formaggi DOP (Grana Padano, Parmigiano Reggiano, Asiago, Montasio, Pecorino Romano, Provolone Valpadana), Formaggi Nazionali (Tomino, Provolone), Formaggi Esteri (Emmental, Gouda, Maasdam, Fontal), Grattugiati (grated cheeses), and Burro e Mascarpone. The company holds BRCGS-IFS food safety certifications and is registered as an Italian S.p.A. with fully paid share capital of €2,000,000.

Euroformaggi operates a B2B go-to-market model, supplying major Italian retail chains (grande distribuzione organizzata) with portioned, packaged, and private-label cheese products, and additionally participates in AGEA national and European tenders for supply of pre-packaged DOP cheeses to Italian charitable organizations. The company provides in-house custom branding (primary and secondary packaging), dedicated aging services for Grana Padano and Parmigiano Reggiano (including for third-party owners), and third-party processing (lavorazione conto terzi). Deliveries are made throughout Italy from the Valeggio sul Mincio site, which is positioned at the commercial crossroads of Lombardy, Veneto, and Trentino — at the heart of Grana Padano production. Revenue is generated through wholesale product sales with no public pricing or subscription model disclosed.

The underlying technology is conventional industrial food processing: fixed-weight packaging equipment capable of producing portion-controlled formats of any size, automated production lines, and a humidity- and temperature-regulated aging facility. The business model is asset-intensive and operationally straightforward — purchase raw cheese, age, portion, package, and distribute — with competitive positioning resting on certifications, geographic proximity to raw supply, scale across six lines, and integrated custom-branding capability rather than on proprietary technology or software.

euroformaggi e c. spa firmographics

Firmographics
Name
euroformaggi e c. spa
Legal name
Euroformaggi E. C. Spa
Website
https://euroformaggi.it
Company type
Private
Founded year
1989
Operating status
Operating
Short description
Euroformaggi E. C. Spa is an Italian cheese processor and packager, founded 1989, that portions, ages, and packages DOP, national, and foreign cheeses across six automated lines for major Italian retail chains and AGEA charitable tenders, operating from a single Valeggio sul Mincio facility with BRCGS-IFS certification.
Ownership category
akta.pro rank

euroformaggi e c. spa industry classification

Industry
Product category
Cheese Processing and Distribution
NAICS
Cheese Manufacturing (311513), Dairy Product (except Frozen) Manufacturing (31151)
SIC
Dairy Products (2020), Food And Kindred Products (2000)
akta.pro primary industry
Cheese Packaging & Portioning (Retail Packs, Snack Packs, Singles) (AFAHABAI)
akta.pro secondary industries
Cheese Aging/Affineur Services (Maturation & Cave-Aging) (AFAHABAH), Private Label & Contract Cheese Manufacturing (AFAHABAJ), Cheese Manufacturing (AFAKAKAB)

Keywords

  • Cheese packaging
  • Dairy distribution
  • DOP cheese processing
  • Private label cheese
  • Cheese portioning

Where euroformaggi e c. spa is headquartered

Location

Headquarters

HQ city
Valeggio sul Mincio
HQ country
Italy
HQ region
Europe

Offices1 record

Markets served

euroformaggi e c. spa business model

Business model
GTM type
B2B
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

  1. Cheese product sales: Euroformaggi purchases cheese directly from producers, processes it through packaging and aging, and sells to major retail chains and other customers. The company operates on a wholesale B2B model, selling packaged cheese products in various formats.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

euroformaggi e c. spa product offering

Product offering

Core offering

Euroformaggi purchases cheese directly from producers and processes, portions, ages, and packages it through six automated packaging lines and a climate-controlled aging warehouse. The company sells packaged DOP, national, and foreign cheeses (including Grana Padano, Parmigiano Reggiano, Provolone, Asiago, Montasio, Pecorino Romano, Emmental, Gouda, Maasdam), grated cheeses, butter, and mascarpone to major Italian retail chains and charitable organizations. It also offers custom private-label branding, third-party processing, and cheese aging services.

Product overview

Euroformaggi E. C. Spa is a cheese packaging and distribution company operating since 1994, specializing in portioning and packaging of DOP, national, and foreign cheeses. The company offers a portfolio of cheese products including Formaggi DOP (Grana Padano, Parmigiano Reggiano, Asiago, Montasio, Pecorino Romano), Formaggi Nazionali (Tomino, Provolone), Grattugiati (grated cheeses), Formaggi Esteri (Emmental, Gouda, Maasdam), and Burro e Mascarpone. Alongside product sales, Euroformaggi provides complementary services including Brandizzazione (custom packaging development), Qualità certificata (certified quality assurance), Magazzino stagionatura (cheese aging facilities), and Lavorazione conto terzi (third-party processing).

Differentiator

Problem solved

Functional benefit

Products and services

  • Formaggi DOP (DOP Cheeses) Protected Designation of Origin (DOP) cheeses including Grana Padano, Parmigiano Reggiano, Provolone Valpadana, Asiago, Montasio, and Pecorino Romano, sold as whole wheels, portioned in various formats, or grated, for retail chains and food industry customers.
  • Grana Padano (Pre-packaged) Pre-packaged Grana Padano DOP cheese made from cow's milk, semi-fat, hard pasta, cooked and slow-matured, finely granular with small evenly distributed holes, available in approximately 400g portions for retail sale.
  • Formaggi Nazionali (National Cheeses) Italian national cheeses including Tomino and Provolone (dolce and piccante), packaged in various formats for retail distribution.
  • Grattugiati (Grated Cheeses) Grated cheese products including Grana Padano, Parmigiano Reggiano, and mixed cheese blends, packaged for retail sale.
  • Formaggi Esteri (Foreign Cheeses) Foreign cheeses including Emmental, Fontal, Gouda, and Maasdam, packaged in various sizes for Italian retail distribution.
  • Burro e Mascarpone (Butter and Mascarpone) Butter and mascarpone dairy products of high quality, including Burro i Valeggiani made from sweet cream of pasteurized milk weighing 500g, for retail distribution.
  • Brandizzazione (Custom Private-Label Branding) In-house development of primary and secondary packaging with personalized customer branding, providing complete private-label packaging solutions for retail and food service clients.
  • Qualità Certificata (Certified Quality Assurance) Quality assurance service certified under BRCGS-IFS voluntary standards, ensuring safety and wholesomeness of supplied products with controls on raw materials, packaging lines, and finished products.
  • Magazzino di Stagionatura (Cheese Aging Warehouse) Climate-controlled aging warehouse service for Grana Padano DOP cheese wheels, with automatic temperature and humidity control, available for proprietary and third-party aging.
  • Lavorazione Conto Terzi (Third-Party Processing) Third-party cheese processing and packaging service including pre-packaged DOP cheese supply for Italian charitable organizations through AGEA tenders, plus development of new packaging solutions for client companies.

Companies that use euroformaggi e c. spa

Customer profile

Named customers2 records

Segments3 records

Ideal customer profiles3 records

euroformaggi e c. spa technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

euroformaggi e c. spa partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • AGEA (Agenzia per le Erogazioni in Agricoltura)minorOthersEuroformaggi collaborates with companies operating in the market for supplies of pre-packaged DOP cheeses destined for Italian charitable entities through national and European AGEA tenders.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

euroformaggi e c. spa competitors and assessment

Company assessment

Direct peers

  • Granarolo: One of Italy's largest dairy companies, producing and packaging a broad range of cheeses, butter, and dairy products for Italian retail and foodservice — directly comparable in DOP cheese production and B2B retail supply.
  • Latteria Soresina: Italian dairy cooperative producing Grana Padano and other cheeses with significant packaging operations; closely comparable in DOP cheese production, portioning, and retail supply model.
  • Ambrosi: Italian cheese manufacturer and packager specializing in Grana Padano, Parmigiano Reggiano, and other DOP cheeses for retail and export — overlapping product mix and packaging-driven B2B model.
  • Caseificio Zanetti: Italian dairy group focused on Parmigiano Reggiano and Grana Padano packaging and distribution; similar product focus on DOP cheeses with established retail and foodservice channels.

Broad incumbents

  • Lactalis Italia: Italian subsidiary of global dairy giant Lactalis, offering a broad portfolio of packaged cheeses including Galbani and Parmalat brands; a much larger incumbent operating in the same cheese packaging and retail supply space.
  • Bel Group: Global branded cheese company (Laughing Cow, Babybel) with significant European cheese manufacturing and packaging operations; broader portfolio but directly overlapping in cheese processing and retail distribution.
  • Saputo: Global dairy processor with substantial European cheese operations; comparable as a large-scale cheese manufacturer and packager serving retail chains.
  • Savencia Fromage & Dairy: French-headquartered specialty cheese group with broad European cheese manufacturing, aging, and packaging operations; comparable in the aging/affinage and packaged cheese category.

Regional players

  • Latteria Merano: South Tyrolean dairy cooperative producing and packaging regional cheeses; comparable product focus and B2B retail model but primarily serving the Trentino-Alto Adige region.

Emerging players

  • Flli Gennaro: Italian dairy company producing traditional Italian cheeses and packaged formats for retail; a smaller, more regional player with overlapping cheese packaging capabilities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

euroformaggi e c. spa compliance and trust

Trust signal

Compliance2 records

euroformaggi e c. spa financial estimates

Financial estimate

Revenue estimate

Valuation estimate

euroformaggi e c. spa leadership team

Management profile

Number of profiles

euroformaggi e c. spa funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

euroformaggi e c. spa M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about euroformaggi e c. spa

What does euroformaggi e c. spa do?

Euroformaggi purchases cheese directly from producers and processes, portions, ages, and packages it through six automated packaging lines and a climate-controlled aging warehouse. The company sells packaged DOP, national, and foreign cheeses (including Grana Padano, Parmigiano Reggiano, Provolone, Asiago, Montasio, Pecorino Romano, Emmental, Gouda, Maasdam), grated cheeses, butter, and mascarpone to major Italian retail chains and charitable organizations. It also offers custom private-label branding, third-party processing, and cheese aging services.

Is euroformaggi e c. spa a public or private company?

euroformaggi e c. spa is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was euroformaggi e c. spa founded?

euroformaggi e c. spa was founded in 1989.

Where is euroformaggi e c. spa based?

euroformaggi e c. spa is headquartered in Valeggio sul Mincio, Italy, in the Europe region.

How does euroformaggi e c. spa make money?

One revenue line is on record: cheese product sales.

Who are euroformaggi e c. spa's main competitors?

Direct peers on record are Granarolo, Latteria Soresina, Ambrosi and Caseificio Zanetti. Broad incumbents are Lactalis Italia, Bel Group, Saputo and Savencia Fromage & Dairy. Latteria Merano is listed as a regional player. Flli Gennaro is listed as an emerging player.

Does euroformaggi e c. spa have an API?

No public API is recorded for euroformaggi e c. spa.

What industry is euroformaggi e c. spa in?

euroformaggi e c. spa's product category is Cheese Processing and Distribution. Its primary akta.pro industry code is AFAHABAI, Cheese Packaging & Portioning (Retail Packs, Snack Packs, Singles), with a secondary code of AFAHABAH, Cheese Aging/Affineur Services (Maturation & Cave-Aging). Its NAICS code is 311513 and its SIC code is 2020.

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