Hitecsa, a manufacturer of air-conditioning systems, based in Vilanova i la Geltrú (Barcelona), was acquired by PHI during the Chapter 11 proceedings Hitecsa entered in January 2012.
After a profound 2-year restructuring and profitability improvement process, PHI has divested Torraval Cooling to an Italian industrial group based in Milan, leader in the production of evaporative cooling equipment in Italy.
PHI has acquired Newark Group International, S.L., the European Division of The Newark Group, a manufacturer of recycled paperboard and converted paperboard products. The division is based in Barcelona and currently operates eight manufacturing facilities in Western Europe. The main companies included in the transaction are the following: Newark Catalana (Spain), Newark San Andrés (Spain), Videcart (Spain), Paper (Spain), Newark Viersen (Germany), Newark Berlin (Germany), Fibor Packaging (Netherlands) y Atelier des Landes (France) among others.
The Torraval Cooling company, a benchmark in the design, conception, manufacture and assembly of evaporative cooling equipment, will grow around 12% in its turnover this year thanks to the maintenance of its contracts in the State and growth abroad.
C/General Castaños 4, 2 Izq
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Tel: +34 93 487 97 35
Fax: +34 93 487 51 33