STOROPACK
Growth due to overseas expansion / Group turnover DM 475m in 1993
The Storopack-Reichenecker Group (HQ: Untere Rietstr. 30, D-72555 Metzingen) report continuing growth in overseas markets, in spite of unsatisfactory results and falling turnover in Germany for 1992.
The Storopack-Reichenecker Group claim to be the leading producer of styropor (EPS) packaging material in Europe and the largest international manufacturer of polystyrene loose-filling products. Growth in group turnover (overseas markets comprised 65% of the total turnover) from DM 403m in 1991 to DM 442m in 1992 was mainly due to acquisitions. The business portfolio was made up of the following business areas as follows: loose-fill 33% (with "Renatur" comprising 12%), moulded parts (21%), full service and trading (34%), as well as environmental, licencing and machinery construction services (12%). Home business turned in a very small profit, while overseas businesses showed variable results, although generally much better than Germany, according to Hans Reichenecker, Managing Director and major shareholder, at the annual general meeting where the company reports and prospects for the coming year were discussed. Group turnover is projected to reach DM 475m in business year 1993. German turnover is projected at DM 165m, with DM 115m for the USA and Canada, DM 60m in France, DM 35m in the UK and DM 15m in Benelux. Recent product innovations should support this growth; for example Storopack delivers styropor storage and drainage elements for the growing market in roof gardens.
A tripling of turnover in the UK market was achieved by the acquisition of A1 Packagings Ltd (85-105 Stainsby Road, GB-London E14 6JT), a retail packaging company with 70 employees, which should achieve a turnover of DM 25m in 1993. Storopack also acquired Bretonneau SA (Paris), a packaging manufacturer, in October 1993. In North America, a 20% jump in turnover followed the acquisition of all of the Pelaspan activities from Dow Chemical Co (loose-filling material made from EPS or recyclate). Reichenecker described the company efforts in recycling as: "the amount of recycled material supplied by industrial waste contractors increased rapidly. Recycling through the much criticized "Duales System Deutschland" is insignificant in comparison." In 1993 Storopack took back 1m cbm of styropor packing materials. This amount was comparable to the amount of Storopack's production of virgin material.
READER SERVICE: Storopack 1992 Company Report with forecasts for 1993/94 and list of companies in the International Storopack Group (in German): PIE-No. 35126 – Product information Storopack (in German): "Storosoft": PIE-No. 35127 – "Renatur": PIE-No. 35128 – Green Cross "Altaess": PIE-No. 35129 – "Packaging Fullservice": PIE-No. 35180 – A1 Packaging Product Manual (in English): PIE-No. 35181.
The Storopack-Reichenecker Group claim to be the leading producer of styropor (EPS) packaging material in Europe and the largest international manufacturer of polystyrene loose-filling products. Growth in group turnover (overseas markets comprised 65% of the total turnover) from DM 403m in 1991 to DM 442m in 1992 was mainly due to acquisitions. The business portfolio was made up of the following business areas as follows: loose-fill 33% (with "Renatur" comprising 12%), moulded parts (21%), full service and trading (34%), as well as environmental, licencing and machinery construction services (12%). Home business turned in a very small profit, while overseas businesses showed variable results, although generally much better than Germany, according to Hans Reichenecker, Managing Director and major shareholder, at the annual general meeting where the company reports and prospects for the coming year were discussed. Group turnover is projected to reach DM 475m in business year 1993. German turnover is projected at DM 165m, with DM 115m for the USA and Canada, DM 60m in France, DM 35m in the UK and DM 15m in Benelux. Recent product innovations should support this growth; for example Storopack delivers styropor storage and drainage elements for the growing market in roof gardens.
A tripling of turnover in the UK market was achieved by the acquisition of A1 Packagings Ltd (85-105 Stainsby Road, GB-London E14 6JT), a retail packaging company with 70 employees, which should achieve a turnover of DM 25m in 1993. Storopack also acquired Bretonneau SA (Paris), a packaging manufacturer, in October 1993. In North America, a 20% jump in turnover followed the acquisition of all of the Pelaspan activities from Dow Chemical Co (loose-filling material made from EPS or recyclate). Reichenecker described the company efforts in recycling as: "the amount of recycled material supplied by industrial waste contractors increased rapidly. Recycling through the much criticized "Duales System Deutschland" is insignificant in comparison." In 1993 Storopack took back 1m cbm of styropor packing materials. This amount was comparable to the amount of Storopack's production of virgin material.
READER SERVICE: Storopack 1992 Company Report with forecasts for 1993/94 and list of companies in the International Storopack Group (in German): PIE-No. 35126 – Product information Storopack (in German): "Storosoft": PIE-No. 35127 – "Renatur": PIE-No. 35128 – Green Cross "Altaess": PIE-No. 35129 – "Packaging Fullservice": PIE-No. 35180 – A1 Packaging Product Manual (in English): PIE-No. 35181.
15.01.1994 Plasteurope.com [21638]
Published on 15.01.1994