Vitesco Technologies meets Punch Group
Vitesco Technologies Italy is now part of the Punch Group, which thus continues its policy of strengthening and diversifying its competencies to provide turnkey solutions
Punch and Vitesco joined forces. As they say, received loud and clear: Punch Group’s strategies are strengthened with the incorporation of Vitesco Technologies Italy’s expertise. Objective decarbonization, but without forcing on a predominant technology. The Punch Group and Vitesco Technologies announced yesterday the signature of a binding agreement to integrate Vitesco Technologies Italy into the Punch Group by the end of this year. The two companies will thereby combine their skills to promote innovation towards a decarbonized 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.
The agreement with Vitesco is another milestone for the Punch Group
It all started in May 2020, when 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.
Thanks to the intended acquisition of Vitesco Technologies Italy, the PunchGroup 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.
Quoting both protagonists in this story
“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.
