Go East: German manufacturer of plastic storage containers and other household articles Keeeper (Stemwede; www.keeeper.com) said it has relocated all production activities to its Polish site in Bydgoszcz.

The logistics services were also transferred to Poland and partly outsourced. Keeeper’s owner, compatriot industrial holding Mutares (Munich; www.mutares.de), said the relocation is due to the high production costs in Germany. Working from Poland, Keeeper would have a “competitive cost base,” it added.

For the past financial year 2023, the company therefore expects to achieve a “significantly improved operating result” compared with previous estimates. The company did not disclose any hard figures.

Keeeper currently still employs a staff of 50 in Germany, apparently mainly responsible for the central departments. Following the relocation, the company now employs 550 people in Poland.

Following the move, Keeeper’s premises in Oppenwehe and the real estate there were sold to haulage firm BTR Transportlogistik (Rehden, Germany; https://btr-transportlogistik.de).

Mutares did not provide any information on the proceeds achieved: “The sale of the company premises and the real estate had an extraordinary effect that did not influence the adjusted operating result,” Plasteurope.com was told in response to a query.

It is unclear whether the relocation of production is the first step on the way to a sale of Keeeper. The company’s parent declined to comment on corresponding “rumours in the market”.

Mutares acquired the plastics processor around four and a half years ago from Wrede Industrieholding (Arnsberg, Germany; www.wrede.de). A previously communicated intention to sell was withdrawn in summer 2022, with reference to the unfavourable market environment.

Johannes Laumann, at the time chief investment officer at Mutares, said, “We are under no time pressure to sell the company.” Market players told Plasteurope.com that contact has since been made with potential buyers.