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2008-03-21
Manufacturing News
XANO negotiations to sell plastics injection moulding biz stalls Negotiations with GP Forvaltnings AB to acquire a number of injection moulding of plastics companies from XANO Industri AB have been broken off.
On 28 January 2008, XANO Industri AB, Jonkoping, Sweden, signed a letter of intent with GP Forvaltnings AB (GP), a private company owned by Nordstjernan, with the objective to examine the conditions to sell the Group’s companies involved in plastics injection moulding. The negotiations have been broken off since the parties could not come to an agreement in due time. GP was to acquire a number of XANO’s companies in the injection moulding of plastics Industry business area. The companies included were Bladhs Plast Bredaryd AB, Bladhs Plast Gislaved AB, Bladhs Eesti AS, Inmedic AB and Inmedic AS having a total net sales of SEK 250 million in 2007. GP Plastindustri manufactures injection moulded plastics components, including plastics closures for the food industry and special components for the pharmaceuticals industry. Xano has various operations within their Industry group involved in other aspects of plastics that were not part of this initial offering that include contract manufacturing by rotational moulding, injection-moulding and extrusion of plastics. The plastics moulding business companies projected to be sold stand strong on the market and have good development prospects. XANO intends to move on with these companies and also continue the work with further strategic acquisitions in appropriate segments. If you're an Employer, Agency or Recruiter looking to fill a job opening, click here to find out about posting your job listing through Jobwerx.com. See all the Press Releases from XANO sites. Read a recent article about -
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