Promens Polimoon has today acquired the productive unit at STE Packaging Development off  plastic cosmetic container.  (the “Business”) STE is located in the municipality of Esparraguera, close  to Barcelona..  The Business which has annual sales in the region of €3.8million with 33 employees specializes in the development, manufacturing and distribution of thick-walled cosmetics pots, jars and components with high decoration capability to their global customer base.  The Business complements the existing cosmetics packaging range of Promens. The purchase price is confidencial and the acquisition is financed with cash.

“The acquisition of STE fits well with our strategy of growth within key segments of Consumer Packaging, such as beauty, as well as providing a foothold in Spain for future growth with our blue chip customer base” – says Ragnhildur Geirsdottir, President and CEO of Promens.

STE  will be a  part of the Packaging division at  Promens Group in Southern Europe.