Synbra Group (Etten-Leur / The Netherlands; www.synbra.com) is to take over the Portuguese market leader in EPS insulating systems and packaging, Plastimar (Mielec / Portugal; www.plastimar.pt). The transaction is expected to be finalised in the next few weeks, once approval has been given by the Portuguese antitrust authorities. The purchase price has not been disclosed.

The acquisition of Plastimar is a further important step towards strengthening the European footprint of the company, which also specialises in EPS and speciality foams for the packaging and construction segments, a spokesman said. Its aim is to grow existing markets, expand into new regions and enlarge its product portfolio. Through the latest transaction, Synbra says its sales will rise to around EUR 330m and the workforce will increase to 1,600.

The company has three production facilities and two warehouses. It employs around 200 people and claims to have been the Portuguese market leader in the EPS business for nearly 50 years.