SCHUTTERSVELD
Vink Group strengthens its position / Sales double in 2000 due to acquisitions
Having recently taken over or acquired stakes in a number of companies throughout Europe, the Schuttersveld Group (HQ: NL-3704 HD Zoist; www.Schuttersveld.nl) has been strengthening its market position considerably, both in the production of high-grade plastics and metal components (Kendrion) and in business with semi-finished plastics (Vink). Sales in 2000 doubled to EUR 1.4bn compared with EUR 694m in the previous year, and the operating result climbed from EUR 33m to EUR 60m. By 2004, Schuttersveld is aiming for total sales of EUR 2.5bn, evenly distributed over the two business groups: Trade & Distribution and Components Manufacturing.
Despite the good performance of the Vink Group (sales 2000: EUR 241.4m, operating result EUR 10.5m), which was further improved by the acquisition of a 30% interest in the semi-finished goods distributor, Herzog Plastic Handelsgesellschaft mbH (D-73730 Esslingen; www.herzog-plastic.de) at the beginning of this year, Schuttersveld posted a total decrease in earnings of 4% in the first quarter of 2001. The reasons given were the unsatisfactory situation in the construction industry in Germany and the downturn in business with some European car manufacturers.
The strategy of the Vink Group is to become the preferred supplier of semi-finished plastics goods (sheet, pipes, accessories and customised products) in all three segments (advertising, building trade and industry) in western and eastern Europe. To achieve this, the company intends above all to expand its customer service and open new sales offices. The most recent example of this is a new company in Leipzig.
The Components Manufacturing Business Group, which comprises the two Kendrion divisions, Automotive and Industry, achieved sales in 2000 of EUR 555.8m (1999: 388.2m) and an operating profit of EUR 34.2m (22.6m). In the automotive supplies segment, the company is aiming to cooperate very closely with OEM companies as a systems supplier. This, according to Schuttersveld, will be reflected in the company´s future acquisition policy.
Reader Service: Schuttersveld Annual Report 2000 (English): PIE-No. 45183.
Despite the good performance of the Vink Group (sales 2000: EUR 241.4m, operating result EUR 10.5m), which was further improved by the acquisition of a 30% interest in the semi-finished goods distributor, Herzog Plastic Handelsgesellschaft mbH (D-73730 Esslingen; www.herzog-plastic.de) at the beginning of this year, Schuttersveld posted a total decrease in earnings of 4% in the first quarter of 2001. The reasons given were the unsatisfactory situation in the construction industry in Germany and the downturn in business with some European car manufacturers.
The strategy of the Vink Group is to become the preferred supplier of semi-finished plastics goods (sheet, pipes, accessories and customised products) in all three segments (advertising, building trade and industry) in western and eastern Europe. To achieve this, the company intends above all to expand its customer service and open new sales offices. The most recent example of this is a new company in Leipzig.
The Components Manufacturing Business Group, which comprises the two Kendrion divisions, Automotive and Industry, achieved sales in 2000 of EUR 555.8m (1999: 388.2m) and an operating profit of EUR 34.2m (22.6m). In the automotive supplies segment, the company is aiming to cooperate very closely with OEM companies as a systems supplier. This, according to Schuttersveld, will be reflected in the company´s future acquisition policy.
Reader Service: Schuttersveld Annual Report 2000 (English): PIE-No. 45183.
07.06.2001 Plasteurope.com [16661]
Published on 07.06.2001