NEWS Piovan acquires IPEG in USA
Ancillary equipment group Piovan has agreed with Sewickley Capital to acquire its IPEG business, a US group comprising Conair, Thermalcare, Pelletron and Republic Machine. The combined group had over 1,800 employees, 14 facilities worldwide and pro forma sales of over €450m in the 12 months to 30 September 2021. “Two years ahead of schedule, we have doubled our size since the year of the IPO,” said Nicola Piovan, Executive Chairman of the Piovan Group. The combination with IPEG, he added, will bring together two of the world’s largest suppliers of industrial automa- tion for the processing of virgin and
Berry raises circular target
Berry Global has an- nounced a target of using 30% circular plastics in fast-moving consumer goods packaging by 2030. This includes recycled and renewable resins like bio-based plastics. The company added that it “envisions decoupling from virgin plastic and fossil fuels in the long term”. The target surpasses a
previous goal of using 10% post-consumer recycled resin by 2025. It will be achieved by such means as: early access to materials like recycled and renewable resins; agility in its global manufacturing capabili- ties aligned with evolv- ing recycled content legislation. �
www.berryglobal.com
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on a cash- and debt-free basis, and a potential earn-out payment of up to $22m, to be paid in 2024, depending on IPEG hitting certain EBITDA growth targets in 2021-2023. It is being financed by a mixture of cash and new debt. Piovan CEO Filippo Zuppichin said
Above: IPEG brands include Conair (ECO chiller above), Thermalcare, Pelletron and Republic Machine
recycled polymers and bio-based resins. The purchase price consists of an initial payment of approximately $125m,
that the company will “access a formidable customer base in North America, with the possibility to follow the investments of the main American multinational corporations in the world”. In addition, its new scale will enable it to achieve further growth in the area of the circular economy and investments in digitisation 4.0. �
www.piovan.com
Lego expands China facility
The Lego Group is to expand its injection mould- ing factory in Jiaxing, China, creating additional capacity to meet long-term growth in China and Asia. Work on the expansion has already commenced and is expect- ed to be completed during 2024. The facility employs 1,200 and carries out all aspects of manufacturing and packaging of Lego products, including element moulding and processing, decoration and packing. The expansion will include a new automated high bay warehouse, moulding facility and
building for processing Lego elements. The work will add 42,000 m² of built-up area to the current site and will “significantly” increase the potential production capacity. In
addition, 17,400 solar panels have been installed on rooftops at the site, which are expected to generate more than 7,000 MWh/year of electricity. �
www.lego.com
Above: Lego’s injection moulding factory in Jiaxing, China Caplugs buys Polykap in Europe
Caplugs, a division of Protective Industries based in Buffalo, New York, USA, has acquired Polykap as part of its drive to expand its manufacturing and service options in Europe. Polykap supplies more than 9,000
standard caps, plugs and other protective INJECTION WORLD | January/February 2022
components for industrial manufacturing, heavy equipment, automotive, hydraulic, beverage and consumer product applica- tions. Its operations in San Marino will now form part of Caplugs Europe, which has facilities in Belgium and the Netherlands. �
www.caplugs.com
www.injectionworld.com
IMAGE: LEGO
IMAGE: CONAIR
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