DOEFLEX
1995 turnover up 51% / Further strong growth / Acquisition of BTP Polymers Division
The UK-based thermoplastic sheet and compounding operation, Doeflex PLC (HQ: Holmethorpe Avenue, Redhill, GB-Surrey RH1 2NR) has been expanding significantly over recent years. For 1995 it reported a 51% increase in turnover to GBP 57.4m with pre-tax profits of GBP 3.05m. Some of the growth was associated with the acquisition of sheet extruder Plastech Ltd (Tanhouse Lane, Widnes, GB-Cheshire WA8 0YQ) during the year. Now it has announced a further acquisition with an agreement to buy the Polymers Division of BTP PLC (Hayes Road, Cadishead, GB-Manchester M30 5BX) which manufactures plastic and rubber compounds and products.
Already well established in PVC compounding (output for 1995 was 24,000 t), Doeflex is now looking to expand its presence in other areas of the compounding industry. This acquisition will give the group Perrite Plastic Compounds (Warrington Road, Risley, GB-Warrington WA3 6HR) which specialises in engineering thermoplastic compounds for the automotive, business machine and electronics sectors. The BTP Polymer Division, which also includes rubber compounding and moulding operations, turned over GBP 18.5m in the year to 31st March 1996 and achieved profits before tax of GBP 671,000. Doeflex will pay GBP 6m for the business, which will be financed by a rights issue.
In addition, the company is also planning to grow its existing businesses through a programme of investments. It recently completed an expansion programme at its Doeflex Vinyl (Hawksworth Trading Estate, Swindon, GB-Wilts SN2 1DX) subsidiary. In sheet extrusion Doeflex operate at its original site in Redhill, plus it owns Iridon (Bally Road Industrial Estate, St. Albans, GB-Herts AL3 6PA) and Horizon Industries (Kruiningenstraat, B-2900 Schoten) both of which were acquired in 1992, in addition to Plastech. Investments of GBP 1.5m are planned which will see a new polystyrene line at Redhill and a new ABS line installed at St. Albans.
READER SERVICE: Detailed press information with 1995 results and Chairman's statement (English): PIE-No. 39102 – Report and Accounts 1995 Doeflex Group: PIE-No. 39352.
Already well established in PVC compounding (output for 1995 was 24,000 t), Doeflex is now looking to expand its presence in other areas of the compounding industry. This acquisition will give the group Perrite Plastic Compounds (Warrington Road, Risley, GB-Warrington WA3 6HR) which specialises in engineering thermoplastic compounds for the automotive, business machine and electronics sectors. The BTP Polymer Division, which also includes rubber compounding and moulding operations, turned over GBP 18.5m in the year to 31st March 1996 and achieved profits before tax of GBP 671,000. Doeflex will pay GBP 6m for the business, which will be financed by a rights issue.
In addition, the company is also planning to grow its existing businesses through a programme of investments. It recently completed an expansion programme at its Doeflex Vinyl (Hawksworth Trading Estate, Swindon, GB-Wilts SN2 1DX) subsidiary. In sheet extrusion Doeflex operate at its original site in Redhill, plus it owns Iridon (Bally Road Industrial Estate, St. Albans, GB-Herts AL3 6PA) and Horizon Industries (Kruiningenstraat, B-2900 Schoten) both of which were acquired in 1992, in addition to Plastech. Investments of GBP 1.5m are planned which will see a new polystyrene line at Redhill and a new ABS line installed at St. Albans.
READER SERVICE: Detailed press information with 1995 results and Chairman's statement (English): PIE-No. 39102 – Report and Accounts 1995 Doeflex Group: PIE-No. 39352.
15.07.1996 Plasteurope.com [19983]
Published on 15.07.1996