ACQUISITION OF ULINCO COMPONENTS AB

RNS Number : 3446Y

Filtrona plc

21 February 2013

 



For Immediate Release

21 February 2013

FILTRONA PLC

A leading international supplier of speciality plastic, fibre and foam products

ACQUISITION OF ULINCO COMPONENTS AB

FIltrona plc ("Filtrona" or "the Company") today announces that it has acquired 100% of the share capital of Ulinco Components AB ("Ulinco Components") from Ulinco Invest Aktiebolag for an undisclosed cash consideration funded from the Company's existing facilities.

Based in Sweden, Ulinco Components is a leading distributor of plastic protection and finishing products, hardware and specialist masking solutions in the Nordic region, and will be reported under the Component & Protection Solutions division.  The acquisition of Ulinco Components not only expands the product range and customer base of the Component Distribution businesses, but also reinforces and extends their geographic presence in Scandinavia.  For the financial year 2012, Ulinco Components generated revenue of c. £5m, and the transaction will be immediately earnings enhancing to the Company.

Commenting on the acquisition, Colin Day, Chief Executive, said:

"The acquisition of Ulinco Components is a further indication of the way in which Filtrona is able to augment its balanced organic growth with value-adding transactions.  With its complementary product range and strong service ethos, Ulinco Components is an excellent strategic fit with our Component Distribution businesses and enhances our position in the sizeable Scandinavian market."

Enquiries:

Filtrona plc Joanna Speed, Corporate Affairs Director Tel: [phone]

Buchanan Richard Oldworth Jeremy Garcia Tel: [phone]

About Filtrona plc

Filtrona plc is a FTSE 250 company and a leading international supplier of speciality plastic, fibre and foam products. Through its four principal operating divisions, Filtrona focuses on the light manufacture and distribution of high volume, essential components which serve customers in a wide variety of end-markets and geographies. Component & Protection Solutions

Component Distribution is a global market leading manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal items.  Operating units in 23 countries serve a very broad industrial base of customers with a rapid supply of primarily plastic products for a variety of applications in industries such as hydraulics, pneumatics, electrical controls and construction. The Pipe Protection Technologies business specialises in the manufacture of high performance innovative products from commodity resins to engineering-grade thermoplastics and polymer alloys for use in a range of end-markets.  Locations in four countries, combined with a wide distributor network, serve customers around the world.

Porous Technologies

A global market leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded and non-woven fibre, polyurethane foam and porous plastic.  Representing leading innovations used in healthcare, consumer and industrial applications, its enabling components are found in a wide range of products from medical diagnostics tests to advanced wound care pads, inkjet printer cartridges, writing instruments, clean room wipes and air fresheners.  Customers in over 56 countries are served from six manufacturing facilities with research and development centres supporting the division globally.

Coated & Security Products

The global market leading producer of high quality self-adhesive tear tape and a growing supplier of speciality tapes, fasteners and labels for the consumer and specialist packaging, point of sale and paper and board industries.  The division is also a leading supplier of authentication technologies and identity solutions.  Customers in over 100 countries are served from facilities operating in five countries.

Filter Products

The only global independent cigarette filter supplier.  The nine worldwide locations, including a UK-based research facility and three regional development centres provide a flexible infrastructure strategically positioned to serve the tobacco industry.  The division supplies a wide range of value adding high quality innovative filters, packaging solutions to the roll your own sector and analytical laboratory services for ingredient measurement for the industry. Other Enitor BV is a leading custom profile extruder located in The Netherlands and offers a complete design and production service.  One of the first companies to extrude plastics in 1956, Enitor is now one of Europe's most advanced suppliers of co-extrusions and tri-extrusions to all branches of industry. Headquartered in the United Kingdom, Filtrona's global network extends to 28 countries and includes c. 4,100 employees, 32 principal manufacturing facilities, 64 sales & distribution operations and 5 research & development centres. The Company's strategy - called Vision 2015 - seeks to maximise shareholder value through the delivery of balanced profitable growth in both its existing and future opportunity markets and technologies, with the objective of delivering at least mid single-digit like-for-like revenue growth and double-digit adjusted EPS growth at constant exchange.  The strategy also calls for strong conversion of profit into cash and a progressive dividend policy.  The Company looks to complement this balanced organic growth with value-adding acquisitions.

For further information, please visit www.filtrona.com

 

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