Zignago Vetro has finalised the acquisition of the entire share capital of Italian Glass Moulds (IGM) based in Portogruaro.

IGM has its headquarters and factory in Portogruaro, and specialises in the production and sale of moulds for the glass container industry.

The Italian producer has modern facilities, its own technologies, and an established know-how.

The acquisition of IGM was carried out through Zignago Vetro’s own funds.

Roberto Cardini, Chief Executive Officer of Zignago Vetro, said: “This acquisition is very important because it is a diversification from the group’s core business but is also in synergy with it.”

IGM needs relaunching, but Cardini said that Zignago Vetro was confident of the success of the operation.

He said: “It is the group’s primary goal to expand its production capacity and broaden the range it can offer the market both in Italy and abroad, ensuring the highest levels of quality, innovation and service.”

The acquisition comes after the announcement of Zignago Vetro’s decarbonisation project last month.

IGM has been in business since 2020, after taking over Busellato Glass Moulds, a long-standing mould-producing company.

It currently employs approx. 40 people and in 2021 had reported revenues of approximately €3 million, with approx. 20% from abroad.