Piovan Group acquires a selection of assets of German competitor Protec Polymer Processing GmbH ("Protec"), an international supplier of systems for the plastics industry, currently in receivership. The transaction involves certain assets previously belonging to material handling, dosing and Recycling divisions - markets where the Piovan Group itself operates and is world leader in the production of systems for automating production processes with plastic, recycled plastic and bio-plastic materials.
The transaction will take place through the controlled FDM with the triple purpose of: increasing the Service/post-sale activities, offering customers upgrades and retrofits of old Protec systems with new Piovan Group solutions, and supporting joint customers in the difficult situation caused by the bankruptcy proceedings of ProTec Polymer Processing GmbH.
Piovan Group, which is actively engaged in the development of products and solutions dedicated to the recycling and circular economy supply chain, going forward will also supply Protec’s solutions in the recycling field, such as plastic regeneration and crystallization.
In line with the group strategy the transaction strengthens the Piovan Group's presence in the German market and in the key strategic segment of after sales services.
"Protec, previously Somos, is among the oldest European companies operating in automation for plastic and recycle plastic industry with a large installed base of unique solutions and a well-established customer base", says Filippo Zuppichin, CEO of Piovan Group. "It is a great honour and responsibility for Piovan Group and FDM to continue such an important tradition and offer their customers the possibility of enjoying such a long technological partnership."
"For FDM it is an important step to further expand and establish the service area. We are pleased to be able to offer all customers the usual service in the field of service and spare parts supply", says Guido Faust, General Manager of FDM.