SHELL
Departure from EPS processing in Europe
In the course of its withdrawal from the plastics business, Shell Chemicals Ltd (GB-London SE1 7NA) is now parting with its EPS activities. Dansk Styropack A/S (Tvilho, DK-6752 Glejbjerg) is to be sold to the Dutch Synbra BV (Zeedijk 25, NL-4871 NM Etten-Leur). Shell owns 100% of moulded part manufacturer Styropack, which has a payroll of 450 at eight locations in Denmark and Great Britain and achieved sales of some DKK 400m (EUR 54m) in 1998.
The Synbra Group, in turn, is a 50:50 joint venture set up by Shell and Royal Ten Cate NV (PO Box 126, NL-7440 AC Nijverdal). In a buy-out backed by a Dutch fund, the Synbra management will be taking over Shell´s 50% shareholding. The shares held by Ten Cate will not be affected. Synbra produces EPS, PS and PP products for insulation, packaging and horticulture. With 1600 employees, the group attained sales of some EUR 270m in 1998 at 24 locations in the Netherlands, Germany, France and Great Britain. The subsidiary in Germany is IsoBouw Dämmtechnik GmbH (PO Box 1164, D-74230 Abstatt).
The Synbra Group, in turn, is a 50:50 joint venture set up by Shell and Royal Ten Cate NV (PO Box 126, NL-7440 AC Nijverdal). In a buy-out backed by a Dutch fund, the Synbra management will be taking over Shell´s 50% shareholding. The shares held by Ten Cate will not be affected. Synbra produces EPS, PS and PP products for insulation, packaging and horticulture. With 1600 employees, the group attained sales of some EUR 270m in 1998 at 24 locations in the Netherlands, Germany, France and Great Britain. The subsidiary in Germany is IsoBouw Dämmtechnik GmbH (PO Box 1164, D-74230 Abstatt).
15.09.1999 Plasteurope.com [17818]
Published on 15.09.1999