ESSEL PROPACK
US acquisition boosts medical devices unit / Double-digit sales growth in Europe in 2007
Essel Propack (Mumbai / India; www.esselpropack.com), the world’s leading producer of laminated tubes, is strengthening its medical device operations. Its US subsidiary Tacpro has acquired Catheter & Disposables Technology (Minneapolis, Minnesota / USA) from CardioTech International (www.cardiotech-inc.com) for USD 1.2m, effective 1 April 2008. Catheter & Disposables Technology manufactures disposable medical devices and laminated film packaging and has Class 7 clean room capacity.
 Successfully with tubes (Photo: Essel Propack) |
Essel Propack has also started to use recycled materials. The tube bodies for its “Etain” product range (the name is a combination of “Essel” and “Sustain”) contain a percentage of recycled HDPE with a barrier film on the inside.
The company now has 2,700 employees at 25 sites in 13 countries around the world. Sales were EUR 185m in 2007 (EUR 179m in 2006), while EBIT fell slightly to EUR 32m. Net profit declined more sharply to just over EUR 9m, down from EUR 17.6m in 2006, because of high start-up costs for facilities in Poland and the US. Double-digit sales rises were reported in all regions. In Europe sales grew by 20%, while in Africa, South America and the Middle East the increase was 40%.
The company now has 2,700 employees at 25 sites in 13 countries around the world. Sales were EUR 185m in 2007 (EUR 179m in 2006), while EBIT fell slightly to EUR 32m. Net profit declined more sharply to just over EUR 9m, down from EUR 17.6m in 2006, because of high start-up costs for facilities in Poland and the US. Double-digit sales rises were reported in all regions. In Europe sales grew by 20%, while in Africa, South America and the Middle East the increase was 40%.
16.06.2008 Plasteurope.com [211006]
Published on 16.06.2008
German version of this article...