ROBINSON
Acquisition of Danish packaging company Schela Plast / 2020 revenues expected to be at EUR 43m
In an effort to align with multi-national customers, packaging group Robinson (Chesterfield / UK; www.robinsonpackaging.com) recently acquired Danish manufacturer of blow-moulded containers, Schela Plast (Brørup; www.schela.dk). Established in 1971, Schela Plast currently employs over 40 people, and produced more than 50 million products in 2020. Financial details of the acquisition have not been disclosed.

The British packaging group is expecting a rise in revenues and above-expectations profits for 2020, according to the company’s trading statement. For the year, ending 31 December 2020, the company expects revenues worth GBP 37m (EUR 42.5m), which is a 6% increase, compared to 2019.

In 2020, Robinson invested GBP 4.6m in addition and replacement of production equipment, and in the refurbishment of a manufacturing building in its UK business. In July 2020, the company reported an impediment due to coronavirus in the sale of surplus properties worth more than GBP 10m (see Plasteurope.com of 20.07.2020). The injection moulder’s last reported net debt was of around GBP 7m.

Chairman Alan Raleigh said Robinson’s performance in 2020 has been resilient despite the challenges. “We have continued to trade throughout the period, operating in line with local hygiene and social-distancing requirements to ensure the well-being of our colleagues, while serving our customers.” “Despite the uncertain economic environment, we remain committed to ongoing delivery of our target of mid-to-high single-digit sales growth and a 6%-8% return on sales,” he added.
Shift in management
The company’s finance director, Guy Robinson, stepped down from his position on 1 January 2021 and was succeeded by existing executive board director Mike Cusick. “The board will continue to benefit from Guy’s experience as an executive director until May 2021 and as a non-executive director thereafter,” said Raleigh.

Additionally, existing non-executive board director Sara Halton was appointed senior independent director and chair of the audit and risk committee.
19.02.2021 Plasteurope.com [246812-0]
Published on 19.02.2021

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