Engines at the end of their stroke on the electric avenue? Maybe, but not for everyone. The group Puncha Belgian multinational company specializing in transmissions and propulsion systems which has its diesel and hydrogen propulsion development center in Turin (formerly GM), acquires Vitesco Technologies, leader in electrification technologies born in Pisa 35 years ago.
The Tuscan company, formerly Continental, with more than 900 employees specialized in petrol injectors. The electric turnaround of the automotive market has slowed down expansion plans, redundancies have been announced, and the path of conversion towards products for internal combustion engines with zero emissions.
Thanks to the acquisition of Vitesco Technologies Italy, the Punch group, with a turnover of 600 million and 1,700 employees, will be able to vertically integrate the supply chain of key components and will expand its industrial operations by leveraging the manufacturing skills of the Fauglia and San Piero, in the province of Pisa.
The pending transaction, obviously subject to the granting of the necessary approvals and compliance with customary pre-closing conditions, is expected to close by the end of 2023.
«Vitesco Technologies Italy represents a fundamental step in Punch’s strategy because it will allow the group to further expand its verticalization in the development of all those components necessary to produce the next generation of Internal Combustion Engines – he stated Guido Dumarey, founder and President of the Punch group – Thanks to the acquisition of Vitesco Technologies Italy in the Group, we will be able to develop even more integrated and advanced solutions for our customers and technological partners. Their petrol-injector know-how will accelerate the development of a new generation of hydrogen injection systems which, combined with the Punch Group’s experience in the development of engines, transmissions and electronic controls, will lead to a revolutionary solution for internal combustion engines, contributing to our common goal of decarbonising the planet”.
Pierpaolo Antonioli, CTO of the Punch Group and CEO of Italian companies of the Punch Group, added: «The extraordinary skills of the two sites are absolutely complementary to ours and will give impetus to the execution of our strategy. It is wonderful to see how much the experience of the various Italian companies is strengthening the Punch Group».
