Danish extrusion specialist Inter Primo AS has acquired the extrusion business of Essentra plc, a UK-based supplier of plastic and fibre products.
Valued at €16.2m, the deal is claimed to place Inter Primo in the lead position in Northern Europe, making it one of the largest custom plastic extrusion companies in the region.
”Essentra Extrusion fits into our organisation as it is very similar to Inter Primo,” said managing director of Inter Primo, Claus Tønnesen, 11 June.
With consolidations rapidly changing the face of the plastics market, Tønnesen said it was necessary for his company to grow both in terms of technology and sustainability.
Commenting on the divestment of the extrusion business, Essentra plc chief executive Paul Forman, said that the 'sale of Extrusion… provides the business with a strong platform for future successful growth' given Inter Primo’s established presence in the extrusion industry.
Han Schootstra, managing director of Essentra Extrusion bv described the acquisition as a “win-win” situation for both companies, and said his company would “now focus more on extrusion”.
Founded in 1938 in Buitenpost, the Netherlands under the name Enitor, Essentra Extrusion entered the plastic extrusion market in 1956.
The company had a turnover of €37m and operating profit of €1.4m last year.
With 75 extrusion lines across 42 production facilities and five global R&D centres, Essentra Extrusion describes itself as “an authority” in the field of extrusion.
The company has developed the technique of co-extrusion, whereby various colours and materials - including include combinations of colours, hard and soft plastics - can be combined in a single profile.
Building on this foundation, Essentra Extrusion is also able to offer custom tri-extrusion and quad-extrusion solutions.
Inter Primo has a total turnover of approximately €150 million and 1.100 employees on 14 production facilities in Denmark, Sweden, Finland, Poland, Germany, Russia and China.