Italian auxiliary equipment company Piovan SpA has acquired a majority stake in the Italian materials handling company Penta srl, based in Poggio Renatico, Ferrara, Italy.
Piovan states that the acquisition is a further step in completing its range of solutions in the plastics sectors, and expanding its business in additional fields outside plastics. Terms of the deal were not released.
Penta says it mainly deals with the plastic converting industries, particularly in the PVC and food sectors. But it also deals with the chemical industry being engaged in highly specialized applications such as the heat treatment of solid products (cooling, drying) as well as handling of products as graphite, oxides, silicates and active coal.
Penta states that it will take advantage of Piovan's international network to enlarge its global presence and to get closer to its customers.
The Piovan group has 7 production facilities, 23 service and sales companies and 70 distributors worldwide. It is based in Santa Maria di Sala, Italy.