SP Acquires PennTech Machinery Corporation
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SP Industries, Inc. has announced that it has acquired the assets of privately held PennTech Machinery Corporation. "PennTech has a well-earned reputation for producing high quality, often customized, equipment and is the only U.S. based manufacturer to offer complete aseptic processing lines," stated SP CEO Bill Downs.
"As a leading supplier to the pharmaceutical, biotech and scientific markets, SP is continually focused on bringing value to our customer relationships. PennTech's current portfolio, engineering expertise and broad capabilities around liquid vial handling are a very strategic complement to our Hull and VirTis pilot and production freeze dryer lines, allowing us to offer a complete suite of manufacturing solutions for semi-automated to fully automated drug production environments."
Downs continued by saying, "We are excited to establish PennTech as a flagship brand within our SP Scientific equipment division. Key manufacturing, engineering, sales and service personnel from PennTech have joined the SP team to assure continuity in operations and service. Vincent Smit, who had served as CEO of PennTech, will play a significant role in sales and product development projects and we look forward to benefiting from his vision and depth of knowledge."