Piovan buys majority stake in Italian material handling equipment maker Penta
Italy-based auxiliary equipment company Piovan has bought a majority stake in the Italian materials handling company Penta.
According to a statement from Piovan, the acquisition is a “further important step in completing the range of solutions in the plastics sectors and expanding the business in additional fields outside plastics.”
The terms of the acquisition have not been disclosed.
Founded in 1993 and headquartered in Poggio Renatico, Ferrara, Italy, Penta provides turnkey raw materials automation systems for the plastic converting industries, including aluminum and stainless steel silos and tanks, pneumatic and mechanic conveying systems; metering and dosing apparatus; and handling and weighing systems for liquid additives and plasticizers.
According to Penta, 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 seven production facilities, 23 service and sales companies and 70 distributors worldwide. Piovan Canada is located in Mississauga, Ont.