Itema, a leading advanced weaving technology provider, has announced to complete agreement to acquire PTMT – formerly known as Panter.
The acquisition has been completed despite the turbulence in global economy, created by COVID-19. The Board of Directors, Itema chose not to put a hold on company’s investment as they do have a firm belief in long-term strategic decision for long-term sustainability.
The acquisition – done by subsidiary Itema Tech s.r.l. – now allows the company to broaden its product portfolio with an addition of PTMT technology. This aims to consolidate the company’s efforts of strengthening the technical fabrics expertise.
The technical fabrics being offered now will range from carbon fibre to the coarsest and finest filter fabrics among many others.
It’s worth recalling here that the company launched a new technical textile division – Itematech, in Q1 ’19 which has been successful in catching interest of weavers the world over.
“Now the acquisition of PTMT technology widens weaving technology offerings of Itema, expressed, Gianfranco Ceruti, President (the Board of Directors), Itema.
Followed by this acquisition, Colzate-based plant of Itema has seen a quick turnaround to be equipped by Itema’s engineering team to manufacture the ex-Panter machine models. This, according to Itema, has ensured the high-quality standards will remain intact in weaving machines.
Ugo Ghilardi, CEO, Itema Group, commented that the technical fabrics represent an extremely complex but valuable market in global textile sector which is constantly evolving. “Itematech will be able to count on our group’s production capacity, commercial as well as service network, along with the technological solutions that have always been the flagship of the Panter brand, such as the loom dedicated to weaving carbon fibre, in what is a unique synergy on the market,” said Ghilardi.