European rigid plastics processing group Polimoon ASA is boosting its consumer packaging capacity with the acquisition of a French cosmetics and medical packaging business.
Polimoon bought Decoplast SA of La Roche-sur-Foron, a blow molder with annual sales of 17 million euros ($23 million). Decoplast operates 30 injection and extrusion blow molding machines at two sites in France - in La-Roche-sur-Foron and Senlis. The deal was completed June 11.
Decoplast has suffered from poor profitability for several years and, late last year, agreed to a court-appointed administrator to manage its business, according to Oslo, Norway-based Polimoon.
Polimoon has agreed to take over only the La Roche-sur-Foron plant. The company plans to focus on improving the operation's layout and standards and strengthening its product range of beauty packaging, Polimoon said in a news release.
Polimoon Chief Financial Officer Vincent Giraud would not comment on whether that commitment involves further investment. Giraud also declined to disclose a timetable for closing the Senlis plant or discuss worker layoffs.
Polimoon's portfolio of consumer packaging firms has been growing. In January, it announced a deal to buy Zavod Novoplast LLC, the in-house polyethylene packaging subsidiary of Russian perfumery, cosmetics and personal-care products manufacturer JSC Concern Kalina of Yekaterinburg.
Polimoon already operates plants in Denmark, Finland, Germany, Italy, Norway and the United Kingdom molding PET, PVC and PE containers for sun- and skin-care, hair-care, bath and shower, and personal hygiene products.
The Polimoon group of companies also produces medical containers in Langeskov, Denmark.