Jun 14 2007
Polimoon has acquired the business of Decoplast in France. Decoplast is a company producing packaging for cosmetics and medical use with annual sales in excess of 17 million Euro. The company has a strong customer base within beauty products. However, the company has suffered from poor profitability for some time after changing its strategy some years ago. This led to the company being put under administration end of 2006.
Polimoon has made a commitment to retain manufacturing located at one of the two sites, La Roche sur Foron and transfer existing business in Senlis to La Roche sur Foron. Parallel to this a program to improve layout and standards and strengthen the product range in beauty packaging will be implemented in La Roche sur Foron. Polimoon envisages growing the business going forward and have gained the commitment from the main customers of Dekoplast.
With Polimoon recent acquisitions in consumer packaging the acquisition of Decoplast will allow Polimoon to continue strengthen the position in consumer packaging.
“I am pleased we have been able to reach an agreement with the administrator to take over the Decoplast business in such a way that a strong commitment to the business going forward can be made.” – says Arne Vraalsen, president and CEO of Polimoon.