Promens hf, the Iceland-based parent of third-largest North American rotational molder, Promens North America, is now structured into three business units: rotomolding, packaging and components.
Promens said Aart Fortanier has been appointed senior vice president of rotomolding. He has headed the company's rotomolding in Europe since Promens' parent, Atorka Group hf, bought Bonar Plastics Inc. in 2005.
Promens built itself into a major rotational molder by purchasing Bonar and then, in 2006, acquiring Elkhart Plastics Inc. of Middlebury, Ind. Atorka already had the Saeplast rotomolding business.
In Plastics News' current ranking of North American rotomolders, Promens North America is No. 3, with sales of $94.3 million from eight plants.
Promens diversified into nonrotomolding businesses last December, by acquiring Polimoon AG, a Norwegian maker of rigid packaging and components. Initially, Polimoon was run as an independent company within Promens, but now will be an integrated part of the Promens group.
Promens will centralize the functions of financial management, information technology, procurement and productivity and quality, with a corporate service center established in Oslo, Norway.
Promens' headquarters will continue to be in Reykjavik.