We are pleased to announce that today Piovan Group has completed its acquisition of IPEG Inc. comprised of the four brands Conair, Thermal Care, Pelletron and Republic Machine.
With a workforce of more than 1,800 employees, 14 production facilities and 41 service and sales organizations the new combined group reinforces its global leadership in the plastic and food industrial automation sectors.
“We are particularly pleased and proud to combine our skills with those of the IPEG Group, which we have always seen with the highest regard, creating the global leader in industrial automation in the plastics sector.” – says Nicola Piovan, Executive Chairman of the Piovan Group.
“We are very excited to realize the benefits of our teams working closely together to leverage the strengths of each of the businesses. – says Kirk J. Winstead, CEO of IPEG, Inc. – We see opportunities to improve of our products, localize production, standards, and design for some markets, and expand our sales and ser-vice footprint; all with the main goal to better serve our collective customers. It’s a powerful opportunity for the collaboration of talent and technologies.”
Thanks to the acquisition of IPEG, the North American market will become the largest market of the Piovan Group with a weight that will rise to almost half of the consolidated turnover of the Group.
Piovan Group is a global leader in the development and manufacturing of automation systems for the storage, conveying and processing of polymers, bio-resins, recycled plastic, food fluids, food and non-food powders. Over recent years, the Group has been particularly engaged in developing and producing automation systems for production processes for the bio-economies and circular economies for recycling and reusing plastic and for the production of plastics which are naturally compostable, tapping into cross-selling opportunities. Since October 2018, Piovan S.p.A. has been listed on the Italian Stock Exchange in the STAR segment. With more than 85 years of experience, a turnover of approximately 282 million Euro in the last 12 months, 1,148 employees in 9 production plants and 33 branches/service and sales offices.
IPEG, Inc. is a Delaware-based company active in industrial automation for polymer conveying and processing and industrial chiller manufacturing, with operations and subsidiaries in the US, India, Mexico, Germany, China, Taiwan and Singapore. The company, with more than 700 employees worldwide and a turnover of USD 192 million in the last 12 months, operates through four main brands – Conair, Thermal Care, Pelletron and Republic Machine – four plants in the US and one in India.