Extrusion International 3-2023-USA

18 Extrusion International 3/2023 INDUSTRY NEWS Record Year in 2022  The Board of Directors of Piovan S.p.A. approves the financial state - ments for the year 2022. “Despite the complicated global scenario, once again our Group con- solidates another year of growth, with revenues exceeding € 500 Million, a workforce of more than 1,800 employees and an Adjusted EBITDA up 53%. None of this would be possible if Piovan Group had not continued to set its strategy on its three historic fundamental pillars: CUSTOMERS, PEOPLE and INNOVA- TION. Never as in this year has the combination of these 3 elements produced excellent results in every field. But our strategy cannot dis - regard a fourth element that cuts across those mentioned above, which is the focus on SUSTAINABIL- ITY,” declares Nicola Piovan, Execu- tive Chairman of Piovan S.p.A.. “The Company's choices of in- creasing focus on sustainability and circular economy have been finan - cially rewarding and have led us to achieve important recognitions. First, with the improvement of our sustainability rating and the ob- taining of the prestigious "Industry Top Rated" badge. Then, by the awarding of important orders in the circular economy, including auto- mation for Asia's largest factory of NatureWorks - the world's largest producer of biopolymers. Thanks to the new technologies developed, revenues in the strategic circular economy segment are growing by more than 20% on an organic basis, demonstrating once again how the Group is among the leaders in the industry,” adds Filippo Zuppichin, CEO of Piovan S.p.A.. On a like-for-like basis, there was growth across all geographic ar- eas, with substantial stability in the EMEA region. Including the results attributable to IPEG, performance improved further in all geographical areas, with North America becom- ing the reference market contribut- ing 52.5% of total results, followed by EMEA (35.7%), Asia (8.5%) and South America (3.4%). 2022 and early 2023: In addition to the acquisition of IPEG, during 2022 the Group established a new company in China, Piovan Industrial Automation Co., LTD, in order to establish the Piovan Group's new plant in the country, which will also be the headquarters for all Group subsidiaries in the Asian region. The site will be dedicated to the design and production of complete auto- mation systems for the processing of plastics, food powders and refrig- eration solutions. In addition, through its subsidiary Pelletron, Inc. it won a major or- der from NatureWorks, the world's largest producer of biopolymers from renewable resources, for the automation of a new PLA plant in Thailand with a production capacity of 75,000 mt per year. With a view to further geographi- cal expansion, the Group established a new sales subsidiary in Indonesia – PT Piovan Technology Indonesia – on 6 January 2008 in order to provide lo- cal and increasingly direct service to customers in this country. In addition, in the area of innova- tion, during the year the company en- tered into an agreement with the Ital- ian Revenue Agency, known as the Patent Box, for tax relief on the direct use of its software, industrial patents and know-how, which are linked by a complementarity bond. This facili- tation allows the partial detaxation of income from the direct use of the Company's intangible assets. The Piovan Group is present in sev- eral geographic areas and in diversi- fied sectors, which mitigates the risk associated with the current geopolit- ical crisis and allows us to look to the future positively. Resilient sectors such as medical and flexible packag - ing are expected to hold up, and au- tomotive is expected to improve. Piovan Group www.piovan.com Filippo Zuppichin, CEO of Piovan S.p.A. Nicola Piovan, Executive Chairman of Piovan S.p.A.