MELBOURNE, AUSTRALIA — Austrim Ltd. has paid A$63 million (US$38.8 million) for London-based BTR plc's Australian plastics businesses: Nylex Polymer Products, Nylex Packaging and Nylex Rotomold.
Austrim, a Melbourne-based diversified manufacturing company, paid A$36 million (US$22.2 million) for the businesses and another A$27 million (US$16.6 million) for three operating sites.
The acquisition means Alan Jackson, chairman and chief executive of Austrim, has bought back the company he helped establish when he was chief executive and chairman of BTR Nylex Ltd., a subsidiary of BTR plc. Jackson retired from BTR in 1996.
Jackson said in a statement that the purchase would further Austrim's manufacturing and process diversification and enhance its product range.
``The acquisition of the Nylex Polymer group extends the group's presence into consumer markets and offers excellent opportunities for future growth,'' he said in the statement.
Nylex Polymer Products is a leading Australian manufacturer and distributor of extruded and calendered products, including vinyl for automotive interiors, furniture fabrics, liners, membranes and decorative laminates. It includes the Nylex Gardena garden products.
Polymer Products also owns and operates Nylex SRM, a PVC recycling unit in Dandenong.
Nylex Packaging is an injection and blow molder of consumer products including Esky-brand coolers, crates, product displays and pharmaceutical bottles.
Nylex Rotomold is a rotational molder of products, such as chemical-storage containers, road barriers, food bins and playground equipment.
Jackson said the operating sites ``provided space for further expansion and opportunities for rationalization.''
Nylex products' markets are mainly in Australia and New Zealand. Sales for the Nylex businesses for the year ended Dec. 31 were A$148.2 million (US$91.3 million).