Jul 7 2006
Kendrion announces that as of this date it has acquired all shares in Essaplast Group AB in Sweden, with branches in Gotenburg, Stockholm and Malmo. The Swedish company is active in field of trade and distribution of semi-finished plastic products and employs some 80 people and has sales of EUR 15 million.
The Vink group (2005 sales: approximately EUR 270 million, active in 14 countries) was already active in Sweden on a modest scale, and Essaplast's activities are a perfect fit to these activities. This acquisition makes Sweden another country in which the Vink group holds a market-leading position, and reinforces Vink's position in the countries of Northern Europe. The two companies will be merged in the near future, to achieve the benefits of the companies' synergies.
The acquisition fits into the Vink group's strategy of continuing its development into a pan-European player that strives for market-leading positions in the countries in which it is active. The efforts in the coming years will emphasise further strengthening of the activities in Germany and France.
Essaplast is profitable. The acquisition of Essaplast contributes to Kendrion N.V.'s profit development. In consultation with the seller, the price paid for the company is not being announced