Low & Bonar plc is continuing to restructure, with plans to sell its specialty polymers and packaging businesses and to relocate its headquarters from Dundee, Scotland, to London. But Chief Executive Officer Phil Reeder said L&B wants to expand its U.S. and European rotational molding operations, and could add "related technologies" such as blow molding or vacuum forming.
"As the largest rotational molder in Europe, we will take advantage of our scale to compete against other players," Reeder said in a telephone interview.
Reeder added that L&B is making operational and organizational changes to its rotomolding business. With 16 sites worldwide, including 11 in Europe, the management structure is too widespread and needs to be reorganized into new divisions, he said. He expects more people to be added to its headquarters.
Several management changes already have been made. Just a few weeks after Reeder's arrival in September, three group executive directors left the company.
The changes have saved the company money and provided more direct communications with the operating companies, he said.
In another change, Bill Blaiklock retired recently as president of the U.S. rotomolding operation, Bonar Plastics Inc. in Newnan, Ga. That unit now is headed by Duncan Bury, divisional general manager of rotomolding for North America. Reached in Dundee by telephone, Bury said he is based in Scotland but spends about half his time in the United States.
Bonar Plastics ranks as the seventh-largest North American rotomolder, with $46.5 million in 1998 sales.
Bonar Polymers Ltd. makes highly specialized polymers for low-volume dental, surgical and adhesives markets.
Although Bonar Polymers has been run as part of the plastics division, its products and technology are very different from the core rotomolding operations, Robinson said.
L&B's other remaining division makes polypropylene yarn, fabric and floor coverings.