High-performance textile and nonwoven fabrics Products Company Royal Ten Cate and NPM Capital announce that they have reached an agreement in principle regarding the sale of Ten Cate Plasticum (the Netherlands, Germany and UK) to NPM Capital and the management.
The divestment will take place approximately against book value.
The company is part of the sector Technical Components.
It is expected that the transaction will be completed in March 2006.
Plasticum produces plastic moulded packaging for consumer products, among others for A-brands in personal care, food and household products.
The company employs some 200 people.
Plasticum has annual revenues of approximately EUR 36 million, whereby growth has been established in the past years in the field of innovative and tailor made packaging concepts.
As a result, the quality of the results has been gradually improved and the company has good prospects for the future.
Ten Cate has announced earlier the divestment policy of all companies in the sector Technical Components.
Plasticum is the second divestment within this sector so far.
At the same time the so called Buy & Build strategy is communicated, which means the strengthening of the strategic basis of Ten Cate and the acquisition of companies within the growth markets for protective fabrics, aerospace composites, armour composites, synthetic grass and geosynthetics.
NMP Capital is focussed on the Dutch corporate sector, in particular companies which are successfully managed by entrepreneurial managers.
Often these companies are leaders in their (niche)markets or have the potential to become market leaders.
At present NPM Capital has a portfolio of 80 participations, of which 70 based in the Netherlands.
marketing@alchempro.com
