For EUR 20m, compounder Sirmax (Cittadella / Italy; www.sirmax.com) has acquired 70% of the shares of Microtec (Padova / Italy; www.mastercolour.eu), which produces and markets PE and PP masterbatches and biocompounds. Founder Diego Lombardo will retain the remaining 30%. Sirmax wants to invest heavily in the expansion of production capacities here.

Over the next three years, a new 12,000 m² production hall is to be built next to the existing 5,000 m² hall. The new building will provide space for 10 plants with a compounding capacity of up to 40,000 t/y. To begin with, the plan is for two Coperion extruders to double output to 16,000 t in the old hall from the beginning of 2020. Microtec is currently operating with four production lines.

The Padova-based company was founded in 2012 and has a workforce of 20, generating sales of around EUR 19m. The company develops and produces compounds and masterbatches based on biopolymers, copolyesters (PBAT) and, since recently, PLA.

For Sirmax, the majority takeover is another step in its endeavour to expand production capacity for recyclate and bioplastics. At the start of August 2019, the company announced it would build a second plant in Indiana / USA to produce recyclate from polypropylene and polyethylene waste – see Plasteurope.com of 06.08.2019. In addition, earlier in the year, the company acquired Italian recycler Societa Europea di Rigenerazione (SER) – see Plasteurope.com of 25.02.2019.

With the Microtec acquisition, Sirmax now operates four plants in Italy, two in India and one each in Brazil and Poland. Another Polish plant is currently under construction – see Plasteurope.com of 06.06.2018.