Piovan has announced plans to acquire a number of selected assets from Germany-based ProTec Polymer Processing.
ProTec, an international supplier of auxiliary equipment for the plastics industry, went into administrative receivership in November 2022, after submitting an application for consideration for receivership in August. Since then, the company, which was previously known as Somos and employs around 100 people, has continued to operate normally. Immediately upon the company's entering into receivership, the insolvency administrators initiated a search for investors, reportedly receiving several expressions of interest from parties interested in acquiring the assets of the company.
For the Piovan Group, whose activities align well with those of ProTec, the acquisition has tactical significance. It will allow the Group to considerably strengthen its presence in Germany - ‘Europe's reference market for plastics’ as Piovan said - specifically in the critical strategic aftersales services segment.
The deal comprises assets previously belonging to ProTec’s material handling, dosing and recycling divisions - all markets in which the Piovan Group is active. Amongst others, Piovan produces systems for automating production processes with plastic, recycled plastic and bio-plastic materials.
The assets acquired from ProTec will be integrated into FDM, a Piovan Group company that supplies dosing units, conveying systems, mixing equipment, weighing systems for powder, and outdoor and indoor silos. Piovan said this will serve a triple purpose: not only will it broaden the service and after-sales activities of FDM, but it will also enable customers with old ProTec systems to be offered upgrades and retrofits with new Piovan Group solutions, and provide support to joint customers in the difficult situation caused by the bankruptcy proceedings of ProTec Polymer Processing GmbH. By acquiring the recycling assets, Piovan will also be able to supply Protec’s solutions in the recycling field, such as plastic regeneration and crystallisation. The Group had already been working on developments to enter this space.
“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,” said Filippo Zuppichin, CEO of Piovan Group, in the press release announcing the acquisition. “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, the acquisition will enable it to provide continuity to longstanding customers, as well as to further build its service offering, according to Guido Faust, general manager of FDM. “We are pleased to be able to offer all customers the usual service in the field of service and spare parts supply.”