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2007-06-11 News Release

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Polimoon rescues French packaging business

Polimoon continues to strengthen its position in the consumer packaging business by acquiring the struggling Dekoplast of France.

Polimoon has acquired the business of Dekoplast in France. Dekoplast is a company producing packaging for cosmetics and medical use with annual sales in excess of 17 million Euro. The company has a strong customer base within beauty products. However, the company has suffered from poor profitability for some time after changing its strategy some years ago. This led to the company being put under administration end of 2006.

Polimoon has made a commitment to retain manufacturing located at one of the two sites, La Roche sur Foron and transfer existing business in Senlis to La Roche sur Foron. Parallel to this a program to improve layout and standards and strengthen the product range in beauty packaging will be implemented in La Roche sur Foron. Polimoon envisages growing the business going forward and have gained the commitment from the main customers of Dekoplast.

With Polimoon recent acquisitions in consumer packaging the acquisition of Dekoplast will allow Polimoon to continue strengthen the position in consumer packaging.

"I am pleased we have been able to reach an agreement with the administrator to take over the Dekoplast business in such a way that a strong commitment to the business going forward can be made." - says Arne Vraalsen, president and CEO of Polimoon.

The acquisition is effective from 11 June 2007.

Polimoon holds a leading position within manufacturing, developing and selling of plastic products with 41 operations across Europe. Polimoon develops, manufactures and sells a wide range of packaging products within the consumer, chemical and medical industries as well as components to the automotive industry. Polimoon has approximately 4 300 employees with 370 employed in Norway, where head office is located. Annual sales are 585 million Euro.

Examples of products include bottles for sauces, shampoos, disinfectants, deodorants, canisters for hazardous chemicals, IV bags for medical care, and interior engine components for the passenger car and truck industry.

Read a recent press release about - Packaging versatility of Thor pots from RPC Blackburn are food grade, strong, robust and shatterproof, while tamper-evident tab ensures product security.

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