RPC Group has announced the completion of the acquisition of Promens Group AS ("Promens"), following receipt of all required anti-trust clearances.
The new combined group will have a turnover in excess of €2 billion, operate from more than 90 facilities worldwide and employ circa 15.000 people. RPC says the enlarged group will be able to serve its customers better by extending the respective product ranges and geographical spread and by offering new technologies.
"We are pleased to have completed the acquisition of Promens and look forward to welcoming our new colleagues into the RPC Group," commented Pim Vervaat, RPC's Chief Executive. "The combination of RPC and Promens will create an enhanced platform of scale across our core European end markets enabling us to deliver superior value for our customers and shareholders in the future."
Jakob Sigurdsson, President & Chief Executive Officer of Promens, commented: "The combination of RPC and Promens will be a very powerful one which will undoubtedly deliver tremendous value for our customers through the enlarged Group's enhanced product, technology and geographic reach, together with the interaction of our respective employees in sharing best practice with their vast experience in the plastics industry. This transaction is a testimony of the outstanding work of the employees of Promens over many years."