SOMMER ALLIBERT
Container division sold to US firm / Concentration on core segments
Following the divestment by the French plastics processor Sommer Allibert (HQ: F-92748 Nanterre) of its bathroom and garden furniture divisions in 1997, the company has now announced the sale of Allibert Equipement (transport containers, crates and pallets) to the US company Myers Industries Inc. (1293 S. Main Street, Akron OH 44301 / USA). The sale is valued at EUR 88.4m plus the debts of Allibert Equipement (EUR 36.6m).
Sales of Allibert´s container division in 1998 totalled EUR 137.2m, equal to just under 5% of the consolidated sales of the Sommer Allibert Group. By selling off this division – which also includes the sale to Myers of the 50 % interest in a US subsidiary operating in this segment – Sommer Allibert is continuing its slimming campaign to concentrate on more profitable core segments such as automotive interior components.
Myers Industries, which is specialised in the manufacture of returnable plastic and metal containers for the distribution of food and non-food articles, posted sales in 1997 of around USD 340m and had net profits of USD 22.3m. Besides this, the US company also manufactures rubber parts for tyre production.
Sales of Allibert´s container division in 1998 totalled EUR 137.2m, equal to just under 5% of the consolidated sales of the Sommer Allibert Group. By selling off this division – which also includes the sale to Myers of the 50 % interest in a US subsidiary operating in this segment – Sommer Allibert is continuing its slimming campaign to concentrate on more profitable core segments such as automotive interior components.
Myers Industries, which is specialised in the manufacture of returnable plastic and metal containers for the distribution of food and non-food articles, posted sales in 1997 of around USD 340m and had net profits of USD 22.3m. Besides this, the US company also manufactures rubber parts for tyre production.
28.02.1999 Plasteurope.com [18159]
Published on 28.02.1999