SCHUTTERSVELD
European strategy / New investment in Poland / Turnover doubled by 2000?
In restructuring the Schuttersveld group, Jan Bernard Wolters, CEO of Schuttersveld NV (HQ: Utrechtseweg 46, NL-3704 HD Zeist) had two priorities: more name recognition and a new image apart from that of the then struggling textile company in Enschede, Netherlands. Mission accomplished: Wolters has gradually acquired enough plastics and metal converting companies to transform Schuttersveld, which is listed on the stock exchange, into one of Europe's leading manufacturers of technical parts.
As reported in PIE, the company went international in 1990, when it acquired the German companies Backhaus GmbH & Co (Waltheimstr. 8, D-58566 Kierspe) and Richard Heinze Spritzgießwerke GmbH & Co (Eupener Str. 35, D-32045 Herford). Since acquiring the Vink Group – Germany: Vink Kunststoffe GmbH & Co KG (Tackenweide 48, D-46446 Emmerich) – in 1991, Schuttersveld has become the leader in Europe's plastic stock shapes market. More recently, Fardem Packaging BV (Nijverheidssteraat 55, N-1135 GE Edam), a subsidiary of DSM, has also been taken over (see Plasteurope.com No 12, 1995). The acquisition this year of the magnetic component manufacturer Binder Magnete GmbH (Mönchweilerstr. 1, D-78047 Villingen-Schwenningen), has brought with it an increase in turnover to HFL 1.1bn (DEM 980m).
The latest news comes from Poland, where Schuttersveld recently acquired a majority share in the company Bianor Sp. z o.o. (ul Szosa Polnocno-Obwodowa 38, PL-15-113 Bialystok). Bianor had been spun off from the formerly state-owned Biazet S.A. in early 1997. The injection moulding factory in Bialystok – now Schuttersveld's No. 7 – produces mainly PP components for electric household appliances. Production is projected to double in 1998.
In 1996, the divisions Vink (trading) and Industrial Services (components), with respective turnover figures of HFL 476.6m and HFL 487.9m, each accounted for approx. one half of the total turnover of HFL 964.5 (1995: 808.5). Last year's operating result was HFL 58m (53.8). According to Schuttersveld's annual report, Richard Heinze survived the crisis of 1995 and did "quite well" in 1996, thanks to strategic efficiency measures. Its market position in telecommunications and personal care "improved significantly". A new plant under construction is scheduled to take up operations in mid-1998. New marketing strategies and new orders gave the Backhaus company a boost to success. Wolters states that the Vink Group in Germany – as in Eastern and Southern Europe – is "still too small" with its HFL 50m in turnover. However, he anticipates achieving market leadership within five years.
Wolters also plans to continue his acquisition spree in the future: Acquisitions are intended to provide two-thirds of the momentum for doubling the group's turnover by the turn of the millennium. Wolters envisions a wider range of components and systems in his chosen niche. The plan is to become a stronger player in consumer markets, especially in the household, motor and telecommunications sectors. Still in the "vision" stage is Wolters' strategy of acquiring an industrial consumer goods division in order to achieve greater profit and to minimize the supplier's dependence on manufacturers. This dream will have to wait until a suitable company can be found.
READER SERVICE: Schuttersveld's 1996 annual report, with interim report for H 1 of 1997 (English): PIE-No. 41611.
As reported in PIE, the company went international in 1990, when it acquired the German companies Backhaus GmbH & Co (Waltheimstr. 8, D-58566 Kierspe) and Richard Heinze Spritzgießwerke GmbH & Co (Eupener Str. 35, D-32045 Herford). Since acquiring the Vink Group – Germany: Vink Kunststoffe GmbH & Co KG (Tackenweide 48, D-46446 Emmerich) – in 1991, Schuttersveld has become the leader in Europe's plastic stock shapes market. More recently, Fardem Packaging BV (Nijverheidssteraat 55, N-1135 GE Edam), a subsidiary of DSM, has also been taken over (see Plasteurope.com No 12, 1995). The acquisition this year of the magnetic component manufacturer Binder Magnete GmbH (Mönchweilerstr. 1, D-78047 Villingen-Schwenningen), has brought with it an increase in turnover to HFL 1.1bn (DEM 980m).
The latest news comes from Poland, where Schuttersveld recently acquired a majority share in the company Bianor Sp. z o.o. (ul Szosa Polnocno-Obwodowa 38, PL-15-113 Bialystok). Bianor had been spun off from the formerly state-owned Biazet S.A. in early 1997. The injection moulding factory in Bialystok – now Schuttersveld's No. 7 – produces mainly PP components for electric household appliances. Production is projected to double in 1998.
In 1996, the divisions Vink (trading) and Industrial Services (components), with respective turnover figures of HFL 476.6m and HFL 487.9m, each accounted for approx. one half of the total turnover of HFL 964.5 (1995: 808.5). Last year's operating result was HFL 58m (53.8). According to Schuttersveld's annual report, Richard Heinze survived the crisis of 1995 and did "quite well" in 1996, thanks to strategic efficiency measures. Its market position in telecommunications and personal care "improved significantly". A new plant under construction is scheduled to take up operations in mid-1998. New marketing strategies and new orders gave the Backhaus company a boost to success. Wolters states that the Vink Group in Germany – as in Eastern and Southern Europe – is "still too small" with its HFL 50m in turnover. However, he anticipates achieving market leadership within five years.
Wolters also plans to continue his acquisition spree in the future: Acquisitions are intended to provide two-thirds of the momentum for doubling the group's turnover by the turn of the millennium. Wolters envisions a wider range of components and systems in his chosen niche. The plan is to become a stronger player in consumer markets, especially in the household, motor and telecommunications sectors. Still in the "vision" stage is Wolters' strategy of acquiring an industrial consumer goods division in order to achieve greater profit and to minimize the supplier's dependence on manufacturers. This dream will have to wait until a suitable company can be found.
READER SERVICE: Schuttersveld's 1996 annual report, with interim report for H 1 of 1997 (English): PIE-No. 41611.
31.12.1997 Plasteurope.com [18940]
Published on 31.12.1997