Piovan SpA has acquired TobaPNC Co. Ltd., a South Korean automation company specializing in industrial processes for plastics, particularly transporting plastic powders.
The acquisition will expand the Italian company’s global footprint and give it access to the strategic market of South Korea, said CEO Filippo Zuppichin in a news release.
Zuppichin said that with the move, Piovan also gains access to leading companies in electronics and automotive technologies.
“Furthermore, this acquisition strengthens our expertise in the industry of powders processing, which represents a significant area of growth for us,” he said.
Piovan, based in Maria di Sala, Italy, supplies ancillary equipment to the plastics industry. Its holdings include the Universal Dynamics brand of machinery.
ToBaPNC has been involved in various projects globally, including in the U.S., Vietnam and China, as part of its partnerships with key South Korean industrial groups.