Polimoon has today concluded the acquisition of 98% of the shares in Plastohm SA. The acquisition of Plastohm will be Polimoon's largest transaction, bringing annual sales in Polimoon in excess of 500 million ¤ (4 billion NOK). The acquisition was initially announced 11 July 2006.
In connection with the closing all Plastohm entities will start trading under the name Polimoon Plastohm.
In the months to come priority will be given to integrate the businesses and increase margin in the automotive operations. It is anticipated that measurements to integrate the businesses and improve earnings will be communicated by beginning of November. The period until then will be used to evaluate the business in detail.
Polimoon holds a leading position within manufacturing, developing and selling of plastic products with 39 operations across Europe. Polimoon develops, manufactures and sells a wide range of packaging products within the consumer, chemical and medical industries as well as components to the automotive industry. In addition the Group has some production of customised products to other industries, such as the marine and leisure industry. Polimoon has approximately 4 000 employees with 450 employed in Norway, where also head office is located. Annual sales are expected to be in excess of 4 billion NOK. In 2005 Polimoon Group had a turnover of 2 485 million NOK and an EBITDA of 232 million NOK.
Examples of products include bottles for sauces, shampoos, disinfectants, deodorants, canisters for hazardous chemicals, IV bags for medical care, and interior engine components for the passenger car and truck industry.
For further information: Arne Vraalsen, President and CEO, +47 22 01 79 00 or +45 20 45 99 19 Kristian Waage, Investor Relations, +47 22 01 79 17 or +47 92 48 08 81 www.polimoon.com