Itema, one of the leading providers of advanced weaving solutions, has announced the finalization of the agreement for the acquisition of the PTMT, formerly Panter, in business lease since April 2019.

Despite the difficult moment that the world economy is going through due to the consequences of the pandemic generated by the COVID-19 virus, Itema’s Board of Directors chooses not to stop investments.

The acquisition by its subsidiary Itema Tech s.r.l. allows Itema to expand its product portfolio by adding PTMT technology, with the aim of consolidating and establishing a new leadership in the field of technical fabrics. Itematech offers the most complete technological portfolio available on the market to weave these special fabrics.

The operation confirms Itema’s Board Directors intention to invest in the textile machinery sector, as witnessed by the words of Mr. Gianfranco Ceruti, President of the Board of Directors of Itema, “The acquisition of PTMT enriches Itema’s technological offer for weaving machinery, adding even more value to our Company’s proposal to the market”.

Mr. Angelo Radici – on behalf of the family heirs of Gianni Radici, who hold 60% of the Itema shares, and in agreement with the Arizzi and Torri families to whom the remaining share belongs – commented, “We are confident that the merger of PTMT’s deep technological know-how and the structural and organizational solidity of our Group will give rise to new opportunities for development and affirmation on international markets.”

Mr. Ugo Ghilardi, CEO of Itema Group, said, “Itematech will be able to count on Itema Group’s production capacity and ist commercial and 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 fiber, in what is a unique synergy on the market.”

The Itema plant in Colzate, at the forefront in the field of lean manufacturing, was quickly equipped by the Itema engineering team for the production of the ex-Panter models thus guaranteeing the high quality standards of Itema weaving machines. Thanks to the union of the two technological realities, Itematech provides the weaving of wide range of technical fabrics and know-how in the sector.