Vitesco Technologies, a Tuscan company that operates in electrification technologies in the automotive sector, joins the Punch group, a Belgian multinational specializing in transmissions and propulsion systems.
The transaction will be completed by the end of 2023. The two companies will combine expertise to promote innovation in the automotive sector and meet the challenges posed by new mobility and the energy transition.
In 2020 Punch acquired the GM Global Propulsion Systems Engineering Centre, now represented by three Turin companies: Punch Torino, Punch Softronix and Punch Hydrocells. The integration of the two Tuscan Vitesco plants in Fauglia and San Piero a Grado, where 900 people work, and a sales office in Turin – explains a note – represents a milestone in the growth strategy of the Punch Group which intends to become a market leader internal combustion engines with zero emissions, with attention to alternative fuels and hydrogen.
“Vitesco Technologies Italy is a fundamental step in Punch’s strategy because it will allow the group to expand verticalization in the development of all those components necessary to produce the next generation of internal combustion engines”, says Guido Dumarey, founder and president of the Punch group. “The extraordinary skills of the two sites are complementary to ours and will give impetus to the execution of our strategy”, adds Pierpaolo Antonioli, CTO of the Punch and Czech group of the Italian companies of the group. “This step represents a win-win situation for both companies. Vitesco Technologies Group will be able to focus on the future of electric mobility. Thanks to this acquisition, research and production activities will be maintained in our area”, explains the managing director Riccardo Toncelli.
The Punch group has 1,700 employees in 5 locations in Europe and Asia, with an annual turnover of over 600 million euros.
Source: Ansa
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