In order to finance its expansion plans, MegaDyne (Mathi / Italy; www.megadyne.it) has welcomed a new investor. Italy’s small and medium sized firms investor Fondo Italiano d’Investimento (www.fondoitaliano.it) has acquired about 10% of the shares in the producer of PU v-belts, gear belts and transport belts. The funds will allow MegaDyne to establish a sales presence in India, South East Asia and Australia, group CEO Giorgio Tadolini told Plasteurope.com, adding that further details were still in the planning stage.

MegaDyne already operates facilities across the globe. Aside from its production sites in Italy (Mathi, Caponago Milano), Germany (Elchingen), France (Bondoufle), Poland (Bygdoszcz), Spain (Vilanova i la Geltrú), the US (Greenville, South Carolina) and China (Qingdao, Wuxi, Xiepuzhenhai), the company also has sales offices in several countries.