Smart Molding International 1-2022

8 newsfeed smart_molding international 1/2022 Ensinger and INEOS Styrolution have recently announced the joint agreement that Ensinger is acquiring the StyLight® thermoplastic compos - ite materials business of INEOS Sty - rolution. The acquisition adds an exclusive SAN based product range to Ensinger’s comprehensive thermoplastic compos - ite portfolio. SAN based products bring many new thermoplastic composite possibilities to the market such as car - bon, glass and natural (flax) based fibre products for aesthetic materials, semi structural, and over moulding applica - tions to name a few. INEOS Styrolution developed and successfully launched the innovative StyLight product line at the K Show in 2016. Since then, the new solution has triggered a lot of interest and business with many customers across a range of industries. “The business continues in Ensinger’s experienced hands, serving the exist - ing customer base and seeking future growth potential to enhance the Com - The Italian Piovan Group acquires the American IPEG, creating the global leader, with a turn-over of almost half a billion euro, in the field of industrial automation for the processing of virgin and recycled polymers and bioresins. Closing expected within the first quar - ter of 2022. In accordance with the agreement signed on December 13th 2021, Piovan S.p.A. ("Piovan" or "Piovan Group") and IPEG, Inc. ("IPEG") has recently announced that Piovan has completed its acquisition of IPEG by virtue of the merger by incorporation of Sewickley Capital, Inc. ("Sewickley Capital"), the owner of 100% of IPEG into a newly formed Delaware corpora - tion wholly owned by Piovan. IPEG is a U.S. industrial group com - prised of the four brands Conair, Thermalcare, Pelletron and Republic Machine. The combined group will have a workforce of more than 1,800 employees and will operate 14 facilities worldwide, and would have generated pro-forma sales of over €450million (on the basis of the results for the twelve months ended 30 September 2021). "We are particularly pleased and proud to combine our skills with those of the IPEG Group, creating the global leader in industrial automation in the plastics sector. Two years ahead of schedule, we have doubled our size since the year of the IPO and we are confidently prepared to meet future challenges and to take advantage of any further aggregation opportunities that may arise." - said Nicola Piovan, Execu - tive Chairman of the Piovan Group. "The acquisition of such an important American player and the merger of two of the largest companies in the world in the field of industrial automation for the processing of virgin and recycled polymers and bioresins will allow us to achieve important growth opportunities on a global scale." - stated Filippo Zup - pichin, CEO Piovan Group - "It will also allow Piovan Group to access a formi - dable customer base in North America, with the possibility - thanks to the inter - national set up of Piovan Group - to fol - low the investments of the main Amer - ican multinational corporations in the world. Moreover, it will allow a faster rollout to the American market of the Group's proprietary technologies par - ticularly in the circular economy. We are convinced that this transaction will cre - ate great value for our shareholders". The new size will enable further growth in the area of the circular econ - omy and investments in digitisation 4.0. The Group will continue to pursue its strategy of putting its Customers, its People and a constant approach to In - novation first. Piovan Group www.piovangroup.com Piovan acquired 100% of the American IPEG Ensinger acquires the StyLight® thermoplastic composite business from INEOS Styrolution