BARLO
Takeover bid for Athlone Extrusions / Expansion of position on plastic sheet market
The Irish Barlo Group plc (IRE-Dublin 4; www.barlogroup.ie) has submitted a takeover bid to the shareholders of Athlone Extrusions plc (IRE-Athlone; www.athloneextrusions.ie) worth a total of EUR 55.8m and valid up until 22 December. Barlo wishes to use this acquisition to further improve the market position of its Belgian subsidiary Barlo Plastics (B-2440 Geel; www.barloplastics.be) in extruded sheet in Europe.
Athlone Extrusions produces film and sheet in polystyrene, as well as sheet in ABS. Its core competence lies in the production of coloured products. The company has its own colouring and compounding units. More than 7000 colour settings are possible thanks to the computer-aided system employed. In the 2000 financial year just ended (30.9), Athlone Extrusions achieved sales of EUR 47.8m. The company´s pretax result fell to EUR 5.4m in 1999 already, on account of the poor situation on the British market. There has been little change in 2000, with the figure now standing at EUR 6.2m.
Barlo sees the acquisition as an ideal addition to its business in transparent PMMA sheet. Since its recent purchase of the Slovakian PCHZ-Akryl (M.R. Steanika 71, SK-01001 Zilina) for approximately EUR 8m, the company claims to be market leader in this segment, with an annual output of 37,000 t overall. The new acquisition is to be known under the name Barlo Plastics Slovakia.
The group is now hoping that the Athlone acquisition will facilitate its move into the coloured-sheet sector. Athlone, on the other hand, which has so far been very much focused on the British market will be acquiring a stronger European presence. The Barlo Group, which includes not only “plastics” activities but also a smaller packaging sector and a business unit for radiators, achieves more than 90% of its sales (latest sales figure: EUR 123.3m) in continental Europe. As already reported (PIE 16, 2000 “Pointers”) Barlo is intending to become “Europe´s leading independent manufacturer of extrusion products” over the next few years.
Athlone Extrusions produces film and sheet in polystyrene, as well as sheet in ABS. Its core competence lies in the production of coloured products. The company has its own colouring and compounding units. More than 7000 colour settings are possible thanks to the computer-aided system employed. In the 2000 financial year just ended (30.9), Athlone Extrusions achieved sales of EUR 47.8m. The company´s pretax result fell to EUR 5.4m in 1999 already, on account of the poor situation on the British market. There has been little change in 2000, with the figure now standing at EUR 6.2m.
Barlo sees the acquisition as an ideal addition to its business in transparent PMMA sheet. Since its recent purchase of the Slovakian PCHZ-Akryl (M.R. Steanika 71, SK-01001 Zilina) for approximately EUR 8m, the company claims to be market leader in this segment, with an annual output of 37,000 t overall. The new acquisition is to be known under the name Barlo Plastics Slovakia.
The group is now hoping that the Athlone acquisition will facilitate its move into the coloured-sheet sector. Athlone, on the other hand, which has so far been very much focused on the British market will be acquiring a stronger European presence. The Barlo Group, which includes not only “plastics” activities but also a smaller packaging sector and a business unit for radiators, achieves more than 90% of its sales (latest sales figure: EUR 123.3m) in continental Europe. As already reported (PIE 16, 2000 “Pointers”) Barlo is intending to become “Europe´s leading independent manufacturer of extrusion products” over the next few years.
04.01.2001 Plasteurope.com [16966]
Published on 04.01.2001