Pressrelease: Primo divests Polish factory
Topic: Building , Lighting , Energy & Offshore , Medico , Transport , Electronics & Packing Tubes , Refrigeration & HVAC , Sustainability
Written by: Lichtenberg
Inter Primo A/S has sold its activities in the Polish-based company, Spyra Primo, after 28 years of close cooperation. The goal is to consolidate Primo's strategy around its core business: extrusion of plastic profiles.
"Primo is the result of organic growth and acquisitions over decades in the plastics industry."
Inter Primo A/S has recently sold its 49 pct. ownership of the Polish-based pipe producing company Spyra Primo. The buyer is J/V partner, Czeslaw Spyra, and the relationship continues as a supplier-customer engagement. In 2019 Spyra Primo had a 15 mio. Euro turnover.
"Czeslaw Spyra took the initiative to the cooperation 28 years ago, and Czeslaw's technical expertise and insight in the market has built an economically sound and solid company that excels in its markets. With the forecasts for the continuous rollout of fiber cables in Europe, for instance, there are good market prospects for the company in the future, - and we are confident this is a good time to let it develop independently," says CEO at Inter Primo A/S Claus Tønnesen.
The sale is a consequence of Primo's strategy to focus on the core business and streamline growth through synergies between the organization's extrusion plants in Europe, Russia, and China. Primo today delivers profiles to such diverse business areas as medico, offshore, the automotive industry, construction, and several others.
A decade of strategic acquisitions and divestments creates a new platform for global growth
The sale of the shares in Spyra Primo concludes several divestments that have been going on for several years:
• 2013: Primo Windows, Denmark, sold.
• 2013: Norsk Formblåsning, Norway, sold.
• 2020: Heinola Compounding Facility, Finland, sold.
• 2020: Spyra Primo, Poland, sold.
The divestments have taken place in parallel with acquisitions, which are closer to the core business. Thus, Profilex - located in Germany and China - was acquired. The acquisitions culminated in 2019 with the acquisition of Essentra Extrusion in the Netherlands.
Global growth strategy
"Primo is the result of organic growth and acquisitions over decades in the plastics industry. In recent years, we have focused on establishing a strong collaboration between our production facilities and specialist units at 13 locations in 9 countries, including Russia and China. We have succeeded in that. Now we need to focus even more on integrating our sales organisation, so that we appear as a unified unit in all the markets in which we operate," says Claus Tønnesen.
Investments follow the focus of Primo's activities in the knowledge of materials, production setup, and machines.
"Our goal is to be able to produce the most advanced plastic profiles for the most demanding customers. Primo must be a guarantor of the highest quality, and our ambition is to be even more influential in the industry than we are today," says Claus Tønnesen.