Manufacturer of flexible packaging and technical films Nordenia International will invest over €30.3M this business year, as part of the growth strategy decided on with new major stockholder, the fund managed by Oaktree Capital Management. The investment volume has more than doubled in comparison with 2005, when the group invested some €15.5M.
This year, €15.5M alone is available for capacity expansion at the German production site in Gronau. Other main focuses for the investment are in the USA (€4.5M), Spain (€4.1M), Hungary, Poland, and Russia (a total of €3.6M), and in the German sites Halle and Osterburken (a further €1.4M). Details of what the money will be spent on are not yet available.
"We are laying a solid foundation for our further growth," states chairman Ralph Landwehr. He says the group is concentrating on the segment of product components for the hygiene industry. "It is here that we see above average growth potential and this is why we are expanding our capacities even further. In addition, we will strengthen our position as a provider of quality products.” This includes the label films, surface protection films, and consumer packaging segements.
Nordenia’s sales rose to €462M in 2005, an increase of 18.1 per cent on the previous year. The group says the positive trend is continuing, with double-digit figure growth rates in the first quarter of this year.
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