XANO acquires technical rotational moulding company

XANO has signed an agreement, via a subsidiary, to acquire all the shares in Tussenholding Lankamp B.V. with subsidiaries, located in Rijssen, the Netherlands. 

The operations, which are mainly conducted within the subsidiary PRM Kunststoffen B.V. (PRM), include the development and manufacturing of products and systems through rotational moulding of polymer materials. The company possesses Europe's largest moulding machine. Sales are made to leading companies in Europe, with the Netherlands and Germany as primary markets. PRM has 54 employees and a turnover of approx. EUR 11 million with good profitability.

PRM complements existing operations within XANO's business unit Industrial Products. An important area for future coordination activities is sustainable production. As one of the few companies in the rotational moulding industry, PRM has the capacity and complete resources for its own recycling of high-quality plastic raw materials. The acquisition means that the business unit's ongoing work with the development of sustainable solutions for recycling and reuse of plastic materials takes another step forward.

PRM also brings additional expertise and strengthens the business unit's market presence in Northern Europe. The acquisition creates a good base for manufacturing and marketing of the company's own industry and infrastructure product segments in the European market. Coordination advantages can be achieved by the business unit's companies with common resources having the opportunity to offer both expanded capacity and greater proximity to leading customers.

Consolidation will be effective as of 1 November 2021. The acquired units are expected to have a marginal positive impact on XANO’s earnings per share.