• June 15, 2024

ITM buys SPI

 ITM buys SPI

The ITM Group has acquired SPI Developments, an adhesives and flavoring-application systems specialist based in the U.K.
SPI’s management will stay on and continue to manage the business from its existing location. The firm will operate as an independent company within the ITM Group, continuing to serve its traditional customers but benefiting from the ITM Group’s worldwide sales and support network.
With the continuing increase in product complexity, for example in specialty filters and tobacco-heating products, ITM realized it needed unlimited access to experts in adhesive-application systems. One of the most skilled players in this field, SPI had already been working with ITM in developing new equipment for several years.
SPI’s flavor mixing and application technologies also complement ITM’s equipment platforms and will help the ITM Group in developing flavored products.
“Becoming part of ITM Group 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,” says Henry Tuck of SPI.
“We will also have more resources to support customer product developments and projects, ensuring more rapid response to market requirements. Most importantly, it also gives the industry and our employees confidence that SPI will be part of the long-term future of the tobacco world.”
Machine developer ITM supplies a variety of equipment and services to manufacturers of tobacco and next-generation products.
“By incorporating the expert knowledge of SPI in our group, we can respond even faster and better to the expectations of our customers”, says ITM Group board member Michiel van der Sluis.
“Especially in the developments of tobacco heating products, but as well in special filters and base rod developments, ITM sees a growing need for different and improved glue and flavor-application systems. “These areas of expertise are getting more and more complex. Knowing all aspects of adhesive and flavor application systems is essential for developing the best machines in this area. Employees of SPI possess this knowledge.”
With the addition of SPI Developments, ITM Group comprises 11 companies, with 21 sites and service centers worldwide. Headquartered in Kampen, Netherlands, the company employs more than 1,200 people. SPI has 25 employees.