Business News

PROCAP is proud to have finalized two acquisitions beginning of 2009

Tuesday 27. January 2009 - The first company is Mc Farlane Plastics based in Newtownmountkennedy and previously owned by the Mc Farlane Group.

This company produces mainly snap caps and spoons for the baby food industry and other plastic caps & closures for the food and chemical industry.
The company has realised in 2008 a turn over of 9 millions € with 38 employees.
This company fits perfectly in the strategic development of Procap in the segment of snap caps and in his regional European expansion.

The second company is Elocap Lux based in Rodange in the Grand-Duchy of Luxemburg. This company was owned at by Elocap Ltd based in Israel who is owned 50/50 by Elopak AS (Norway) and Kibbutz Yakum (Israel). This acquisition includes also an important Manufacture & Supply contract to Elopak AS. Elocap Lux has started the production in Rodange end 2006 and has realised a turn over of 5 million € in 2008 with 18 employees. With this acquisition Procap enters in a market segment where we are not very important and with an important growth rate: the market of caps for carton packaging. This acquisition reinforces also the geographical position of Procap in the hart of Europe.

These two acquisition shows that Procap is participating to the necessary restructuration of the European market of plastic caps & closures. These acquisitions are also a clear signal to the market that Procap has the means and the will to continue to grow in Europe.