Local media reported in July that Italian injection moulding company Polplastic (Arino di Dolo; www.polplastic.it) acquired competitor Wegaplast, now called Polplastic Bologna, on 18 May 2020. The takeover is aimed to position Polplastic as a systems supplier on the Central European automotive market, especially in Germany. The company is also said to be planning an expansion into non-automotive markets such as household goods, telecommunications, sporting equipment and cosmetic packaging.

In order to save the company after facing financial difficulties in summer 2019, Wegaplast agreed to a takeover by Polplastic. The deal includes all its machinery and lines, brands and patents as well as staff and customers. A share in Polish firm Wega Polska is also part of the transaction, for which Polplastic paid EUR 2.8m, according to media reports. EUR 1.6m of this was for Wegaplast’s entire store of raw materials, semi-finished and finished goods.

According to the latest figures released by the company, Polplastic generated sales of EUR 43m in 2018. The injection moulder planned to increase its turnover in 2019 despite focusing on automotive manufacturing – CEO Alberto Poletti announced revenues were up 40% in Q1 2019, a rise that was largely due to Polplastic establishing international partnerships. At the start of 2020, the Italian company also invested in a KraussMaffei injection moulding machine for all projects involving overmoulding of composite and metal parts.