Voith plans to acquire Toscotec

03 Jan 2020 − 

A significant transaction is about to take place in the paper machinery sector. Voith and Toscotec, both important machinery suppliers to the paper industry, will become one company.

German technology group Voith plans to acquire 90 per cent of the shares in Italian plant builder Toscotec S.p.A. The companies signed a purchase agreement at the end of December 2019 and agreed to keep the price confidential. They informed that the transaction is expected to be completed in the first half of 2020.

Toscotec explains that Alessandro Mennucci, CEO of Toscotec, will retain a 10 per cent share in the company. Even after acquisition by Voith, Toscotec will retain its product and performance portfolio as well as its sites.

Toscotec specialises in developing and producing paper machines, systems, and components for the production of tissue, paper and board. Its focus lays on machines to produce sanitary paper such as kitchen wipes, paper napkins or toilet paper. The company is headquartered in Lucca, Italy, and operates other sites in China and the USA. It employs around 200 persons and generates annual sales of roughly €100m.

"Especially in the tissue segment, Toscotec is a reputed and established company that complements our offerings in this important growth area," commented Andreas Endters, president and CEO of Voith Paper. "The acquisition will enable Voith to consolidate its standing as a full-line supplier in all areas of the paper industry,2 he added.

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