Irish environmental and injection molding company One51 plc is entering the North American market through the acquisition of the majority of IPL Inc., a custom and proprietary molder based in St. Damien, Quebec.
One51 of Dublin and its several plastics subsidiaries have not been active in North America, so the purchase is an extension of One51's geographic reach, explained One51 CEO Alan Walsh in a phone interview. The two companies overlap in some product areas such as wheeled waste and recycling carts, but IPL's retail packaging business, in the 250-millimeter to 2.5-liter size range, would be a new market for One51.
“IPL gives us access to significant new markets for our existing products while also allowing us to bring a wide range of exciting new products, especially in food packaging and bulk containers, to our existing customers,” Walsh explained.
Walsh said IPL's manufacturing expertise is impressive, “but we can make some improvements from an operational perspective.”
IPL will operate as a stand-alone business but One51 will appoint new executive management after the transition period.
Under One51's ownership, IPL could boost its use of recycled plastics in its carts, a notable thrust of the United Kingdom operations, Walsh added.
The Irish company's plastics businesses are under the OnePlastics Group umbrella. Its other operating division is ClearCircle, a hazardous waste management and recycling operation. One51 also holds investments in renewable energy such as wind turbines. In total, One51 logged sales of 276.5 million euros ($304.2 million) last year, 10.2 percent higher than in 2013.
OnePlastics Group has annual sales of about 150 million euros ($165 million), employs about 450 and runs six manufacturing locations: four in the United Kingdom, one in Ireland and one in China. The group has a stable of more than 150 injection molding machines, including all-electric models for food and health care packaging. IPL operates more than 80 injection molding presses.