Promens subsidiary Polimoon acquires the Dekoplast Business in France.

11.06.2007

Polimoon, a fully owned subsidiary of Promens hf. 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 Euros. The acquisition is financed by facilities from DnB Nor.

Dekoplast’s profitability has been unacceptable for some time which led to the company being put under external administration towards the end of 2006. Dekoplast has operated two manufacturing plants in France, but Polimoon intends to consolidate the operations in one location. At the same time productivity in the plant will be improved as well as strengthening of the product range. In addition Polimoon will consolidate Dekoplast with its’ current operations in France and sees great future perspectives for this operation within its current business. This acquisition will strengthen the European plastics operations of Polimoon.

“I am confident the acquisition of Dekoplast will provide ample opportunities to strengthen its operations and increase productivity. We will consolidate the operations of the two cfacilities and support it with the vast knowledge existing within Polimoon and Promens. Being able to close this deal is therefore a matter of great pleasure, which we believe will strengthen Polimoon and Promens in the long run.” says Ragnhildur Geirsdóttir president & CEO of Promens.