SO.F.TER. acquires PGroup

"The acquisition of PGroup represents a significant step forward in our growth strategy and allows us to rank among the top three independent compounders in Europe in terms of volumes, with 120,000 tons projected sales for 2011" said Stefano Zocca, Managing Director of SO.F.TER. "The first and most important result of this operation is a remarkable increase of the business with Germany, where the SOF.TER. Group strengthened its presence, particularly in the automotive industry. Moreover, the development of synergies in the production and commercial areas has just started and we expect to achieve important results in the near future" he added.

Within the current year, in fact, a rationalization of the Engineering Plastics production will take place both in the Forlì and Ferrara plants, aiming at a general service improvement by specialising the production sites and optimising the supply chain, said SO.F.TER in in announcement issued today.

SO.F.TER said that the acquisition will broaden its portfolio in the field of reinforced plastics, in which PGroup is specialized with the Tecnoprene products. Besides, the integration of Pibiflex copolyesters will complement its TPE range.

The SO.F.TER. Group reached a turnover of EUR 150 million in 2010 in Europe. It has its headquarters in Forlì, and two other subsidiaries in Mexico and Brazil.