Within the next five years, Rotovia (Dalvik, Iceland; www.rotovia.com) aims to double its turnover from the current level of around EUR 134 mn and become the market leader in its field, according to CEO Dadi Valdimarsson. He told Plasteurope.com that there was good demand from all major market segments. Rotovia was founded only a few weeks ago with money from the Freyja and SÍA IV investment funds.

The new name combines several rotational moulders and foam processors that originated from the former companies Bonar, Promens, and RPC. Previous owner Berry Global sold the entire rotomoulding business in the summer for an undisclosed sum. Rotovia’s core companies are Sæplast (Dalvik, Iceland; www.saeplast.com), Varibox (Deventer, the Netherlands; www.varibox-ibc.com), Tempra (Hafnarfjörður, Iceland; www.tempra.is), and iTub (Alesund, Norway; www.itub-rental.com – see Plasteurope.com of 10.05.2016).

The increase in turnover is to be achieved primarily through organic growth, the development of new regional markets, and the introduction of new products, especially at Sæplast and Varibox. “We will invest a large part of the cash flow in the coming years,” Valdimarsson said, declining to specify a sum.

Plans include additional machinery, more automation, and potentially more plants, he explained, noting that acquisitions are being planned only as a supplement. Valdimarsson noted he sees potential for growth in both own-brand products and contract-manufactured transport containers and packaging. Both account for about half of the revenues.

Additionally, “more than 20%” of the products are to be manufactured on the basis of recyclates by 2028. To this end, Rotovia wants to introduce a new take-back system, with which packaging can be collected and recycled after its product life cycle.

The company employs around 800 people worldwide. Production occurs at nine plants in Europe (Iceland, France, Germany, and Poland) and a facility in Canada.

While Sæplast produces multi-walled polyethylene containers, some of which are insulated with polyurethane foam, in three plants in Iceland, Spain, and Canada for the fish industry, among others, its sister companies focus on EPS packaging and thermal insulation as well as rotomoulded IBCs made entirely of LLDPE with an integrated pallet. iTub also offers a pool system for the industry with around 50,000 PE tubs. Since mid-2022, the former Rhein-Conti Kunststoff-Technik in Hockenheim, Germany, has strengthened the Rotovia portfolio with tanks, pipes, and cladding parts for commercial vehicles.