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Brazilian Wortex and Italian Amut establish Joint Venture and begin operations in Brazil

The announcement of the joint venture was made during a press conference at Feiplastic (The International Fair of Plastics, in São Paulo).

May, 20, 2013 - As part of the scope of its broad program of internationalization, Wortex started a joint venture with the Italian group Amut that will bring more innovation and investments to the brazilian plastic processing industry. The synergy between the two companies - both manufacturers of plastic extrusion systems - will be expanded with new facilities in Campinas, Brazil, where the joint venture will start manufacturing extrusion lines for pipes, profiles and sheets. In a second phase, Amut-Wortex will produce thermoforming machines and equipments for the treatment of urban and industrial waste.

According to Wortex' s director, Paolo De Filippis, the products to be manufactured by Amut-Wortex will have a 65% nationalization index. Through the cooperation, the Italian company transfers technology for the production of manufacturing machines for plastic sheets, pipes and profiles, thermoformers, as well as recycling techniques and equipment, mainly PET material. "The two companies complement each other both in their market strategy and in their product portfolios. We invest approximately U$ 1.2 million in our own research every year to develop products. We have a research center that develops, tests and takes new products to the market, "says the executive.

The joint venture, explains Mauro Drappo, Amut´s CEO, is part of a broader program of growth and internationalization of Amut which began last year with the input of capital by an Italian Investment Fund. "The partnership with Wortex, adds Drappo, allows us to fully enter the Brazilian and South American markets."

In the mid-term, Wortex expects is to increase revenues by 75% after the full operation of the joint venture. "Every year, we hit record sales and, in the last three years we have had a 10% to 15% annual growth. In the same period, we invested more than $ 6 million, "says De Filippis. The new factory of Amut-Wortex in Campinas currently has an area of 2500 m² but will be expanded to 3500 m² by the end of this year. And the goal is to increase the facilities to 6000 m² by the end of 2014.

Source: Wortex