ITP has acquired 20% of the shares of PCB, which was in the hands of Switzerland's Precicast SA. Both companies had founded Precicast Bilbao in 1999. Through this acquisition, PCB will become a wholly owned subsidiary of ITP.
Casting activities at PCB are strategic to ITP, as they allow developing a differentiated product offering in relation to other companies in the sector. In this sense, the operation is included in the forecasted growth plans that are part of ITP's current 2016-2020 Strategic Plan, which has recently been launched.