STOROPACK
Internationalisation continuing / Sales target: EUR 500m / No public offering
The Storopack Hans Reichenecker GmbH & Co KG company group (D-72555 Metzingen) is continuing with the globalisation strategy it commenced some time ago. This specialist in packaging made of polystyrene, polypropylene and other raw materials is intending to exceed the EUR 500m (DEM 1bn) sales mark in four years, with an increase in the share of foreign sales. As managing partner Hans Reichenecker explained when the latest sales figures were presented in Stuttgart, Storopack Group sales increased to EUR 336m (323m) in 1998 and will be “considerably” above EUR 358m in 1999. The earnings position at home improved in 1999 while remaining at the same high level abroad. The family company has a sound equity capital base. Storopack has borrowed funds for the latest acquisitions, and Reichenecker says that a public offering is still excluded.
In Germany, Storopack sales will be falling to some EUR 102m (106m) in 1999. The company has acquired Novempor S.A. in France (F-44136 Saint-Sebastien-sur-Loire Cedex) with sales of EUR 30m, which will bring Storopack´s sales in France up to EUR 100m (74m). In North America, sales at the 20 locations are expected to increase to EUR 92m (87m) in 1999.
Storopack has set its sights on China as the next big market and is intending to achieve sales of some EUR 10 to 13m in the year 2000. With its newly-founded Storopack Reichenecker China Holding in Hong Kong, the company will be acquiring an interest in two Chinese companies for packaging material, journalists were told. The company´s commitment in Asia is backed up by a Storopack branch in Singapore, a representative office in Japan and a licensee in Australia.
Storopack has virtually ceased operating in the polystyrene recycling sector. As was announced at the press conference, the quantities arriving for recycling have fallen 80% since 1994. Today, Storopack only operates two facilities, compared with ten in 1994. Polystyrene waste is increasingly being channelled into thermal recycling.
• Plasteurope.com Service: Further details on the course of business at Storopack in 1998: PIE-No. 44261 – Customer publication “Direkt” with a company portrait of Novempor: PIE-No. 44262 (all documents in German).
In Germany, Storopack sales will be falling to some EUR 102m (106m) in 1999. The company has acquired Novempor S.A. in France (F-44136 Saint-Sebastien-sur-Loire Cedex) with sales of EUR 30m, which will bring Storopack´s sales in France up to EUR 100m (74m). In North America, sales at the 20 locations are expected to increase to EUR 92m (87m) in 1999.
Storopack has set its sights on China as the next big market and is intending to achieve sales of some EUR 10 to 13m in the year 2000. With its newly-founded Storopack Reichenecker China Holding in Hong Kong, the company will be acquiring an interest in two Chinese companies for packaging material, journalists were told. The company´s commitment in Asia is backed up by a Storopack branch in Singapore, a representative office in Japan and a licensee in Australia.
Storopack has virtually ceased operating in the polystyrene recycling sector. As was announced at the press conference, the quantities arriving for recycling have fallen 80% since 1994. Today, Storopack only operates two facilities, compared with ten in 1994. Polystyrene waste is increasingly being channelled into thermal recycling.
• Plasteurope.com Service: Further details on the course of business at Storopack in 1998: PIE-No. 44261 – Customer publication “Direkt” with a company portrait of Novempor: PIE-No. 44262 (all documents in German).
15.01.2000 Plasteurope.com [17610]
Published on 15.01.2000