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2006-12-20 News Release
Plastics products providers
European acquisitions
Plastics products manufacturer completes acquisitions for a personal
care packaging business in Russia and an automotive and electronics industry
JV buyout in Slovakia.
With the acquisition of Plastohm, Polimoon acquired a Joint Venture Partnership
in Slovakia. The JV is a factory located in Nitra, Slovakia.
Polimoon has today bought out the JV partners, Sluzba, and has assumed
100% ownership of the business.
The factory is strategically located to take part in the growth in the
automotive industry developing in Slovakia and in the vicinity of Slovakia.
The company is specialising in the manufacturing and development of components
to predom the automotive and electronics industry.
Find Information and Suppliers of plastic
automotive components.
Polimoon envisages to invest significantly in the years to come inorder
to expand the capacity. The automotive industry in Slovakia is developing
rapidly with a number of automotive manufacturers setting up automotive
plants in Slovakia. The Polimoon operation in Slovakia together with the
other Polimoon components operations should be well poised to capitalize
on the envisaged growth.
"I am pleased that we have reached an agreement with the JV partners
which allows Polimoon to assume 100% control and confidently invest in
expanding the capacity" says CEO Arne Vraalsen.
The acquisition has been concluded today.
Addtionally;
Polimoon announces that it has entered into an agreement to acquire Novoplast,
a subsidiary of the Kalina Concern in Yekaterinburg in Russia.
The Kalina Concern is one of the largest producers of personal care products
in Russia with a wide range of products for skin, oral and hair care products
including fragrances. Kalina has grown rapidly over the years. Packaging
for the Kalina's products have partially been manufactured in the subsidiary
Novoplast and partially sourced from external suppliers such as Polimoon.
Kalina is widely recognised for its premium products and growth. Polimoon
has worked with Kalina for the last seven years.
Find Information and Suppliers of personal care packaging.
With the acquisition of Novoplast, Polimoon cements the status as a key
supplier and developer of personal care packaging to the Kalina Concern.
Polimoon will also use Novoplast as a platform to develop business in
Russia.
"We believe it is a great opportunity with the acquisition of Novoplast
in Yekaterinburg, Russia; On the one hand it strengthens our relationship
with Kalina, allowing us to supply locally in Russia. Secondly it will
be a base where we can develop a manufacturing presence in Russia and
take part in a growth market" says CEO of Polimoon, Arne Vraalsen.
Polimoon will invest to both upgrade and expand the capacity in Novoplast.
The acquisition is subject to regulatory approval. This is expected to
be obtained early in 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.
Find information about Polimoon.
Read a recent press release about - The Polimoon Group business unit that
develops and manufactures plastics products through rotational
moulding technology has been sold.
Plastics
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