Belgian plastics manufacturer Polimoon is making the move into cosmetics packaging, having purchased a 70 per cent share in Polish manufacturer PPH Lima-Pol.The new company will be known as Lima-Pol Polimoon and Belgium-based Polimoon says that intends to acquire the remaining 30 per cent share of the new company in the course of the next three years.
Currently Lima-Pol has annual sales in excess of €13 million, an operating profit that exceeds 10 per cent and close to 200 employees specialising in a variety of packaging applications that has increasingly focused on the cosmetics industry in recent years.
The company also claims that investment and demand from its client base have meant that the company has had an annual growth rate of over 20 per cent in the past few years.
The client base includes a number of the leading blue chip international cosmetics manufacturers, including L'Oreal, Alberto-Culver and Avon, where the company has benefited from an increase in demand for premium cosmetic and personal care products in the Eastern European and Russian markets.
Until recently, the sourcing of packaging for premium packaging in this region has been a challenge as the market has not been well served. Lima-Pol Polimoon will now be aiming to further increase its share in this growing market, thanks to increased resources.
The company develops and manufacturers a wide variety of cream jars and personal care bottles using several technologies, relying on in-house resources and skills to develop and industrialise a full range of products.
"Lima-Pol provides an entry for the Polimoon Group into the growing Eastern European market and the consumer packaging segment," said Anre Vraaslen CEO of Polimoon.Vraaslen went on to say that the acquisition will also help to strengthen the services it provides to its existing customer base because of the increased resources and synergies it brings about.
The acquisition of Lima-Pol is part of Polimoon's strategy to grow the consumer packaging segment in Europe and to build a stronger presence in Eastern Europe with a core focus on high quality.
Polimoon says that the enlarged group will have combined revenues of €325 million, employing 2,250 employees, and will operate in 12 countries throughout Europe.