Vitesco Technologies and PUNCH Group signed a binding agreement on June 5, 2023. Continuation of activity of the two Tuscan centres and continuity of employment is guaranteed.
The PUNCH Group, Belgian family-owned company specialised in driveline and powertrain solutions, and Vitesco Technologies, a leader for electrification technologies, announce today the signature of a binding agreement to integrate Vitesco Technologies Italy S.R.L. into the PUNCH Group by the end of this year. Vitesco Technologies Italy and PUNCH will thereby combine their skills to promote innovation towards a decarbonised mobility. This step is in line with the strategy of the Vitesco Technologies Group to focus and increasingly invest in the future of E-mobility.
In 2020 PUNCH acquired the GM Propulsion Engineering Center, now represented by three companies in Turin: PUNCH Torino, PUNCH Softronix and PUNCH Hydrocells. The integration of the two Tuscan plants of Fauglia and San Piero a Grado and a sales office in Turin represents a milestone in the growth strategy of the PUNCH Group, aimed at becoming a leader in the market of zero-emission internal combustion engines, with a special attention to the world of alternative fuels and hydrogen.
The components developed by Vitesco Technologies Italy and the expertise in mechatronics will be integrated with the variety of products developed by the PUNCH Group, which ranges from control electronics, to propulsion systems, transmissions and their hybridization. The experience acquired by Vitesco Technologies Italy in the field of injectors will create a particular synergy with the skills of PUNCH Torino and affiliated centres focused on the development of “turnkey” innovative propulsion solutions.
Thanks to the intended acquisition of Vitesco Technologies Italy, the PUNCH Group will be able to vertically integrate the supply chain of key components and will expand its industrial operations leveraging the manufacturing competences of the teams in Fauglia and San Piero.
The intended transaction is expected to close by the end of 2023 and is subject to regulatory approvals being granted and fulfilment of other customary closing conditions.
“Vitesco Technologies Italy is a fundamental milestone in the strategy of PUNCH because it is allowing the group to further expand its verticalization in the development of all those components needed to produce the next generation of Internal Combustion Engines,” said Guido Dumarey, founder and President of the PUNCH Group. “With the addition of Vitesco Technologies Italy to the Group, we are thrilled to develop for our customers and technology partners even more integrated and advanced solutions. Their know-how on gasoline injectors will speed-up the development of a new generation of Hydrogen Injection Systems that combined with existing capabilities of PUNCH Group in the development of Engines, Transmission and Electronic Controls will lead to a revolutionary solution for Internal Combustion Engines, contributing to our common goal to decarbonize the planet”.
Pierpaolo Antonioli, CTO of the PUNCH Group and CEO of the Italian entities of the PUNCH Group added: “The extraordinary skills of the two sites are absolutely complementary to ours and will boost the execution of our strategy. It is wonderful to see how strongly the expertise from the Italian entities is empowering the PUNCH Group.”
“This step is a win-win situation for both companies. I’m convinced that PUNCH Group with its aspiration to become a leading integrator and manufacturer of driveline solutions will perfectly fit with the expertise of Vitesco Technologies Italy. On the other hand, the Vitesco Technologies Group can thus focus on the future of E-mobility. Due to this planned acquisition research and production activities within the region are sustained”, said Riccardo Toncelli, Managing Director of Vitesco Technologies Italy.