Acquisition

Piovan Group acquires 100% of the share capital of Doteco SpA

| Business function | Piovan | Santa Maria di Sala, VE | Italy

Piovan Group, the world's 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, announces the signing of the agreement for the acquisition of 100% of the share capital of Doteco SpA.

Founded in 1994, Doteco SpA is based in Modena 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 and a consolidated EBITDA of € 3.4 million. Doteco operates internationally and counts, among its partners, the main extrusion producers on a global level.

"The acquisition of Doteco strengthens and increases Piovan's global technological leadership, consolidating the strategic growth process that has always distinguished the Piovan Group" declares Nicola Piovan, Executive Chairman of the Piovan Group.

"With this integration - continues Filippo Zuppichin, CEO of Piovan Group - we could combine Doteco's film dosing technologies with Piovan's 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".






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