May 10, 2013 10:12 ET

Westeel Acquires European Grain Handling Systems Manufacturer

WINNIPEG, MANITOBA--(Marketwired - May 10, 2013) - Westeel today announced that it has gained important new capabilities to serve its global agricultural customers through the strategic acquisition of PTM Technology of Este, Italy.

A proven private company founded in 1994, PTM Technology engineers, designs and manufactures a broad range of automated grain handling systems including chain, bucket and belt conveyors, grain sampling and dust collection equipment. PTM's highly engineered, value-added products complement Westeel's market-leading family of grain storage systems and enable Westeel to deliver a more comprehensive offering to its global customer base in over 30 countries.

PTM has 30 skilled employees, including extensive engineering capability, and operates a 41,000 square foot flexible manufacturing facility with a high degree of plant automation, and integrated information and proprietary on-line quoting systems. Its current configuration provides a meaningful opportunity for volume expansion without significant capital investment.

"Combining our grain storage systems with PTM's grain handling systems provides our customers in North America and globally with an unparalleled post-harvest solution," said André Granger, President of Westeel. "We have worked closely in the past with PTM on turn-key international projects and we know from those experiences that their technology, manufacturing quality and customer support are second to none in the industry. We are particularly pleased to welcome Antonio Marchetti and Gigliola Zizioli and the entire PTM team to Westeel."

With its sales and engineering capability in Madrid, newly opened office in Mumbai, and now PTM, Westeel continues to build critical mass in key overseas markets, and position itself as one of a handful of companies that will benefit from the secular trend for continued investment in post-harvest infrastructure on a global basis.

"We share Westeel's core philosophy when it comes to delivering ever-increasing customer value through product innovation and responsive manufacturing," said Mr. Marchetti, PTM Technology's General Manager. "Now as one of just a handful of integrated agricultural infrastructure companies worldwide, we have a wonderful opportunity to grow by equipping our joint sales and engineering teams with a more powerful value proposition for our markets."

About Westeel

Westeel is a division of Vicwest Inc. It is headquartered in Winnipeg, Manitoba, where it operates one of its five production facilities in Western Canada. Westeel's comprehensive catalogue of steel storage products includes a wide range of on-farm and commercial storage solutions for today's agricultural industry, as well as custom storage solutions to meet the needs of petroleum and industrial sectors. The company exports its product across North America and to more than 30 countries around the world. Vicwest Inc. is traded on the TSX under the symbol VIC.

Contact Information

  • Westeel
    Andre Granger
    President and General Manager
    (204) 233-7133