MOSCOW (MRC) -- The world leading operator in the development and production of process automation systems for the storage, transport and treatment of plastic and food polymers and powders, listed in the Star segment of the Italian Stock Exchange, Piovan Group, announced the signing of the agreement for the acquisition of 100% of the share capital of Doteco, said the company.
"The acquisition of Doteco strengthens and increases Piovan global technological leadership, consolidating the strategic growth process that has always distinguished the Piovan Group", declared Nicola Piovan, Executive Chairman of the Piovan Group.
"With this integration - continued Filippo Zuppichin, CEO of Piovan Group - we could combine Doteco film dosing technologies with Piovan feeding and storage automations, becoming a leader in the supply of complete plants in this field and acquiring new customers in a sector that, also in light of the increasingly necessary sanitary and hygiene improvements, is becoming strategic in food packaging".
As MRC informed earlier, European petrochemical industry faces short-term and longer-term challenges caused by or exacerbated by the COVID-19 pandemic. Speakers on Monday at the European Petrochemical Association’s (EPCA) 54th annual meeting, being held in a virtual format, said the crisis had been a learning experience for the industry.
According to MRC's DataScope report, Russian companies significantly raised their purchasing of PP in foreign markets in August partially because of a major increase in demand, imports were 21,200 tonnes versus 17,200 tonnes a month earlier. Thus, overall PP imports into Russia reached 143,200 tonnes in January-August 2020, compared to 120,100 tonnes a year earlier.
Founded in 1994, Doteco is based in Modena (Italy) and is one of the world leaders in technologies for the dosing of plastic films (for food and non-food packaging) and synthetic fibers. The company closed 2019 with a consolidated turnover of 19.7 million euros and a consolidated Ebitda of 3.4 million euros. Doteco operates internationally and counts, among its partners, the main extrusion producers on a global level.
MRC