Piovan buying selected assets of auxiliary equipment supplier Protec

Italy-based auxiliary equipment maker Piovan SpA is acquiring what it calls “a selection of assets” from German company Protec Polymer Processing GmbH.

In a March 15 news release, Piovan Group officials said the transaction involves certain assets previously belonging to Protec’s material handling, dosing, and recycling divisions – markets where the Piovan Group itself operates.

The Protech assets will be placed within FDM, a Piovan company that supplies dosing units, conveying systems, mixing equipment, weighing systems, and resin storage silos.

The financial terms of the acquisition have not been disclosed.

“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,” the release said.

Protec – which was previously known as Somos – went into administrative receivership late last year.

Piovan Group will also supply Protec’s solutions in the recycling field, such as plastic regeneration and crystallization.

The transaction strengthens the Piovan Group’s presence in the German market and in the key strategic segment of after sales services, the release said.

“Protec…is among the oldest European companies operating in automation for plastics and recycling plastics industry, with a large installed base of unique solutions and a well-established customer base,” Piovan Group CEO Filippo Zuppichin said in the release. “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.”