Söderbergföretagen forms Nordic Plastics Group
111130
Three of the plastics subcontractors in the Söderbergföretagen industrial group are forming a new company to be called Nordic Plastics Group. The merger brings together STI Industriplast in Malmö and Helsingborg; Molybon in Trelleborg; and Andrén & Söner in Gothenburg. Nordic Plastics Group will have 175 employees and SEK 300 million in annual sales. The merger reinforces Nordic Plastics Group’s leading position as a supplier of semi-finished and processed plastic components to the Nordic market.
“Breaking new ground in order to move the sector ahead is a natural role for us to play as the market leader,” says Per Gullstrand, CEO of industrial group Söderbergföretagen. “We have three companies that offer considerable synergies and economies of scale, which we are realizing through the merger.”
The group has adopted an aggressive strategy, with its sights set on doubling sales within five years by refocusing on profitability and acquisitions. Gullstrand was recruited from BE Group last spring to lead Söderbergföretagen’s growth and development effort. The decision to merge three plastics subcontractors is one element of the new strategy.
“Fierce competition and heavy price pressure are facts of life in today’s market,” Gullstrand says.” More than ever before, our customers are demanding consolidation and stable, long-term suppliers. The new company will be in a stronger position to give our customers what they want when it comes to short lead-times, secured delivery and high quality.”
“Consolidation is one building block towards our goal of realizing Söderbergföretagen’s underlying value,” Board Chairman Jan Söderberg says. “If we succeed, we will have a good springboard for further development of our other industries.”
The new company will be led for the time being by Gullstrand and a management team of key people from the participants in the merger. Nordic Plastics Group will operate in three different cities: Gothenburg, Helsingborg and Trelleborg. Production at STI Industriplast in Malmö will be relocated to the Trelleborg plant, which is being expanded through the investment of major resources. Integration of the three companies is scheduled for completion in summer 2012. All 30 employees of STI Industriplast in will be given the opportunity to work in Trelleborg. Negotiations with the trade unions have commenced and are expected to be finalized within the next few days.
For additional information, feel free to phone:
Per Gullstrand, CEO, Söderbergföretagen: +46 40-12 36 40
Jan Söderberg, Chairman, Söderbergföretagen: +46 705-09 15 22