Norway´s Polimoon group (N-1025 Oslo; www.polimoon.com), has acquired Plastic Processing Competence Center (PPCC, F-01150 Blyes) from US packaging materials group Graham Packaging (York, Pennsylvania 17403-2543; www.grahampackaging.com). The French company, to be renamed Polimoon France, is specialised in developing and producing packaging materials for agrochemicals and consumer goods. It operates a state-of-the-art production facility with nearly 13,000 m² of floor space and 16 extrusion machines.

With the acquisition, Polimoon said it is gaining a platform from which to develop its automotive and packaging business in France. To this end, PPCC´s production facilities are to be expanded up to the end of 2005. In 2003, the Norwegian group, which employs 2,100 at 18 locations in 11 European countries, had sales of EUR 230m. Some 75% of turnover was in packaging, 25% in components for the automotive and electronics sectors. Last year´s EBITDA was EUR 23m before one-off restructuring charges, and the group said earnings are expected to “increase significantly in 2004 on expected sales of EUR 300m.”