NEWS


Piovan and Delta Tecnic sold to investor groups


Automation Systems, part of Investindustrial, a European group of independently


IMAGE: PIOVAN


agreed to acquire colour and


additive master- batch producer


managed investment companies, has entered into an agreement with Pentafin to purchase a controlling share of Italian auxiliary machinery company Piovan. Founded in 1934, Piovan owns a wide range of brands including Conair Group, Doteco, Pelletron, Piovan, Thermal Care, and UnaDyn. The €716m sale is expected to close in the final quarter of this year. “In recent years, the


Piovan group has been able to firmly consolidate its position as one of the leading global players in the development and production of automation systems for manufacturing


Delta Tecnic. In 2023, Spain-based Delta


Piovan is well established in plastics auxiliary equipment such as dosers


processes,” said Nicola Piovan, Executive Chairman of Piovan’s Board of Directors. “In a constantly evolving market environ- ment, Investindustrial’s expertise and resources will be key factors in continuing and accelerating the growth path for the benefit of all stakeholders.”


Another subsidiary of Investindustrial recently


Tecnic, which owns and operates three production sites, generated revenue of approximately €60m and has a total workforce of over 200.


Investindustrial said it plans to accelerate Delta Tecnic’s international expansion, both organically and with targeted acquisi- tions across Europe, North America, and Asia, following the successful strategy it underwent with previous investments in the chemical sector such as Benvic, Polynt, and Bakelite Synthetics. � www.investindustrial.com �www.piovan.com � https://deltatecnic.com


New polyolefin plant mulled in China


Borouge, Adnoc, Borealis and Wanhua Chemical Group have signed a collaboration agreement for a feasibility study to develop a specialty polyolefin complex in Fuzhou, China.


The proposed complex, with the capacity to pro- duce 1.6m tonnes/yr of ployolefins, will leverage both Borealis’ proprietary Borstar technology and Borouge’s extensive sales


network, the partners said. Ultimately, the consor- tium intends to establish a joint venture with Chinese company Wanrong New Ma- terials (Fujian). �www.borealisgroup.com


Avient adds to re-Sound TPE portfolio


Avient is extending its reSound REC recycled content TPEs portfolio with new AF 7210 grades specifically developed for automotive interior applications such as mats, grips, and console trays. Overall, the new grades contain 51-59% recycled content with a minimum of 37% from PCR sources. They are available in hardnesses ranging from 43 to 90 Shore A and can be used for overmoulding onto PP substrates. They also have good UV stability and meet standards for volatile organic compounds (VOCs) and fogging. Matt Mitchell, Director, Global Marketing of Specialty Engineered Materials at Avient, said new legislation such as the EU’s revision to the ELV Directive puts additional pressure on OEMs and automotive tier-one suppliers in regard to using recycled materials. The Directive proposes a minimum of 25% of the plastics used in vehicles sold in 2030 must be sourced from PCR material. �www.avient.com


New president at Westlake


US materials supplier Westlake has an- nounced that Jean-Marc Gilson (left) has been appointed as President and CEO. Gilson, who has held a similar position at Mitsubishi Chemical Group, succeeds Albert Chao, who will become Executive Chairman. “I am honoured and humbled to become


www.compoundingworld.com


the second, and first non-family, CEO of Westlake,” said Jean-Marc Gilson. “I have long admired Westlake as a best-in-class company at the forefront of delivering life-enhancing products through innovation in essential materials and building products.” �www.westlake.com


August 2024 | COMPOUNDING WORLD 5


IMAGE: WESTLAKE


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