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06-10-2011

SO.F.TER. Acquires PGroup

SO.F.TER., Forlì, Italy, announces the acquisition of PGroup, an Italian company based in Ferrara and specialized in the production of engineering plastics for the automotive and industrial sectors. The acquisition has been carried out through the subsidiary SO.F.TER. Tecnopolimeri Srl after completion of the voluntary arrangement procedure started by PGroup in 2010.

SO.F.TER. already took over PGroup through a leasing contract in April 2010: since then the management of the two companies has been working in close cooperation and succeeded in meeting all obligations towards customers and creditors and in preserving PGroup employment level.

“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.

Within the current year, a rationalization of the Engineering Plastics production will take place both in the Forlì and Ferrara plants, aiming at a general service improvement by specializing the production sites and optimizing the supply chain.

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