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2006-01-31 News Headlines

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Polimoon plastic products completes Rosti AS packaging business acquisition

The new acquisition of Rosti packaging business by Polimoon plastics products will identify how synergies can most effectively be materialized as a new, combined group.

Polimoon, headquartered in Norway, announced the acquisition of the packaging business of Rosti AS in Germany and Denmark on 9 January. Rosti AS is a subsidiary in A.P. Møller - Mærsk A/S. The fiinal agreement is now completed. The acquisition was concluded at the price of 17.7 million € financed by bank debt drawn from current bank acquisition facility.

Rosti AS has annual sales of 40 million € (320 mNOK) and approximately 290 employees. The business operates four factories in Germany and one in Denmark. Excluded from the acquisition is one German and Rosti's Swedish operation of PET bottles.

"We have visited several of Rosti's customers since the agreement was signed 9 January, and I am very pleased with their positive response to the change in ownership. The customers realise the benefits the acquisition provides through broader product range and geographical presence in Europe, says Arne Vraalsen, President & CEO.

Over the next two to three months we will evaluate our operations to identify how benefits and synergies most effectively can be materialized as a new, combined group. It is estimated that significant synergies will be achieved, particularly in Denmark.

Polimoon recently announced two other acquisitions. One was Lima-Pol Polimoon, a manufacturer of premium packaging located in Poland, with focus on consumer packaging, mainly jars and bottles to the cosmetics industry. The other was Rim-Tech, a manufacturer of components to the automotive and construction industry located in the Czech Republic.

With these current acquisitions the enlarged Polimoon Group will have combined sales of 380 million € (3 billion NOK) employing 2740 people in 13 countries throughout Europe.

Polimoon holds a leading position within manufacturing, developing and selling of plastic products with 27 operations in thirteen European countries. 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. In addition the Group has some production of customised products to other industries, such as the marine and leisure industry.

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