INVESTMENTS TO SECURE THE FUTURE OF THE LOCATION
Worms/Hoofddorp, Netherlands, September 07, 2018 – RENOLIT Benelux B.V., a subsidiary of RENOLIT SE, plans to purchase the business interests of Draka Polymer Films B.V. from its parent company Vulcalux Nederland B.V. Both companies have signed a share purchase agreement which foresees the future takeover of the Draka location in Enkhuizen/Netherlands by RENOLIT.
The planned acquisition should send a clear signal to the Enkhuizen location regarding securing its future. “We want to make sustainable investments in the location to the benefit of customers. Existing technical equipment will be modernized to make the plant fit for the future,” explains the responsible RENOLIT Board Member, Dr. Axel Bruder.
“Draka Polymer Films B.V. is a leading manufacturer of vinyl films for the office supplies business. Because of the progressive digitalization of office organization on one hand and the import of office supplies films, especially from Asia on the other, the European office supplies film business is facing major challenges. Falling demand and increasing competition from outside Europe have put Draka in a difficult entrepreneurial position”, says Rubens Leite, the General Manager of Vulcalux Nederland B.V.
“Draka’s owners have therefore decided to sell the company. RENOLIT is the right partner to continue and expand the office supply films business. In the future, Vulcalux will focus on investments in the production of films for technical applications at the two existing plants in France, Alkor Draka Industries and Alkor Draka Medical.”
With its Business Unit RENOLIT PROFESSION, RENOLIT is already successfully positioned in the market segment of office supply films. The planned acquisition will provide customers with tangible benefits with regard to stability, delivery performance and quality.
The closing of the transaction, which is subject to approval by the responsible anti-trust authorities, is expected by the end of 2018. The parties have agreed not to disclose the purchase price. Both organizations will continue to operate independently of each other until the anti-trust authorities reach a final decision.
The RENOLIT Group is globally-active specialist for high-quality films, sheets and other plastic products. With more than 30 locations in over 20 countries, and sales of EUR 1.016 billion in fiscal 2017, the company is one of the world’s leading processors of plastics. Over 4,700 employees are engaged in further developing the company’s 70-plus years of know-how.
The Vulcalux Nederland B.V. is a leading manufacturer of plastic films, its products servicing various applications and sold throughout the world. At present, its business with office supply films is marketed by the company Draka Polymer Films B.V. The plant in the Netherlands (Enkhuizen) specializes in the manufacture of polymer films for the stationery market.