Italtinto Group Holdings Corporation (“IGHC”) has announced the acquisition of the global tinting equipment business formerly known as Italtinto, from Clariant Plastics & Coatings Ltd. Paintindia took the opportunity to catch up with Tony Traub, Principal of IGHC to learn more about this acquisition and what it means for the Indian Coatings Industry.
PAINTINDIA: We would dearly like to have an insight into your legacy and background in the coatings business.
TONY TRAUB: I have always been a keen player in the coatings equipment business. I sold my controlling interest in HERO in July 2015. Since then I have been searching for a dispensing company which would enable me to return to this industry, which I have been involved with for 30 years. Finally, after looking at a number of companies, I acquired the equipment division of Clariant, formerly known as Italtinto. However, we will focus on only the equipment business so that we can provide excellence in supply and service in an industry to which I am dedicated. Italtinto is similar in size to when I acquired control of HERO in 2004 which then took on a business plan to expand globally to become a significant supplier.
PAI: Can you give us a background into this new form of Italtinto?
TT: Italtinto, which was founded in 1972, is a leading global provider of advanced tinting equipment to the paint and coatings industry. Its original offerings included automatic dispensing machines, gyroscopic mixers, colorants, and color matching software. This business was acquired by Clariant in 2011. Later, after the reacquisition from Clariant we have changed the name to Italtinto, hired many people from the industry in the region and elsewhere around the globe and are in process of moving our Indian factory location in order to provide the necessary volumes, manufacturing excellence and the best service structure as possible. These changes are already being implemented only 4 weeks after our acquisition from Clariant, highlighting our commitment to this segment. Italtinto will not become a “same old” company with existing technologies but will think outside of the box to provide next generation equipment. We will do this by embracing current technologies such as wi-fi, Bluetooth, and android devises and combine these with some new futuristic innovations.
PAI: What would be your outlook towards the colorant business in the context of your core equipment business?
TT: We would like to focus on our core competence of equipment, and put all our strengths and resources in this direction. With the new Italtinto we are not associated with any colorant producer and are now open to incorporate any colorant system in our machines.
PAI: The Indian market is lucrative given it has the largest number of POS tinting systems globally. What are your thoughts on the challenges and opportunities here?
TT: I have always believed that India is one of the fastest growing emerging markets and one being necessary for the success of a global supplier within our industry. I still have this belief and will build Italtinto Equipments to be one of the four cornerstones of the revitalized Italtinto that is striving for the number one position here.
PAI: Would you be looking towards local manufacturing here in India as well? What would be the extent of operations here in India?
TT: This current acquisition includes the development and manufacturing facilities in Milan (Italy) and Mumbai (India), which together with current management and further investment will sustain internal growth and expansion into global markets. We will surely be looking at improving the facilities in India. Apex Tinting Services, an independent service network, will be combined upon closing, giving us enhanced manufacturing and service capabilities in India to serve the market here. We have an able leader in the form of Mangesh More, who will be our Managing Director of Italtinto Equipments Pvt. Ltd., India, and will be responsible for the AMEA region._
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