Caronno Pertusella, Italy – Polytec EMC Engineering has been acquired by Cannon Group from previous owners PUR Holding. The addition of the Austrian machinery manufacturer will strengthen the position of Cannon Afros in the PU-based elastomer sector, it said.
The business will remain at its existing home in Marchtrenk, Austria, and operate under the name Cannon Polytec EMC. PUR Holding will retain 25% of its shares. Financial terms of the deal have not been disclosed.
Polytec EMC’s MD Peter Stinshoff will remain with the business. All current employees will transfer to Cannon Group.
The deal will expand the Cannon Afros portfolio, adding low-pressure, multi-component PU and BDO/amine/MOCA machines. This, it said, means it will now be able to offer all elastomer applications to its customers.
While it will remain technically independent, the two R&D departments will collaborate closely, Cannon said. Customers will have access to Cannon Afros global technical support.
Cannon Afros entered the elastomers market a decade ago, and currently supplies high- and low-pressure machines for various elastomer applications. While high-pressure technology is used for the high-volume production of parts with fixed physical and mechanical characteristics, the company said, low-pressure elastomer casting is appropriate for making products such as pigs, rollers, scrapers, dampers, gears, belt drives and wheels.
“In line with our growth strategy and to strengthen our leadership position in the PU industry, we needed to reinforce our offering in the elastomer machinery market,” said Cannon Group president Marco Volpato. “Acquiring a top player in the industry with a technology that complements our own was the best choice to achieve that goal.”