Toscotec Acquires Drying Specialist Company Milltech

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Tissue machinery and equipment supplier Toscotec, Lucca, Italy, a member of the Mennucci Group, has acquired Milltech, a Lucca-based supplier of advanced solutions for drying to the paper industry. Toscotec CEO Alessandro Mennucci this past week announced the acquisition of Milltech's entire shareholding from Faper Group of Italy.

"The fact that Milltech's success lies not only in drying, but also in energy saving, was a crucial factor in our decision," Mennucci noted. "We can now offer our clients solutions that are even more integrated, Now we can supply complete solutions for drying and energy saving. The company already possesses considerable expertise in energy efficiency thanks to its highly successful steel drying cylinder - TT SYD - of which it has sold more than 90 units worldwide."

Fabio Boschi, CEO of Faper Group, added that "we are delighted that Milltech will be able to benefit from Toscotec's industrial and strategic resources, as it embarks on its second growth phase. Toscotec is a successful company built on strong traditions, and driven by a highly capable management team that will truly understand the potential synergy with Milltech's technology and innovative spirit. Faper Group will continue to invest in its core activity represented by tissue converting, through its subsidiary Futura spa."