Netherlands-headquartered ITMGroup said its acquisition of 100 per cent of shares in the UK-based company was effective 11 July. SPI will continue to manage its business from its existing location and will operate as an independent company within the ITM group of companies.
“With the continual increase in product complexity, for example in special filters and tobacco heating products, ITM realised it needed unlimited access to experts in adhesive application systems,” the press release read. “SPI is one of the most skilled players in this field, and the company has worked closely with ITM in developing new equipment for several years now.
“SPI’s flavour mixing and application technologies also complement ITM’s equipment platforms and will help ITMGroup in developing flavored products.”
Henry Tuck of SPI said, “Becoming part of ITMGroup gives SPI direct access to more next generation product markets and improves our ability to serve and support existing customers and the tobacco industry globally.”