IPL Plastics Plc is looking at a number of acquisition opportunities in continental Europe, according to the Irish Examiner.
The sustainable packaging solutions provider for food and consumer, agricultural, logistics and environmental end-markets is expected to move on them after its initial public offering (IPO) due to happen late next month.
Geographical Balance
The announcement was made after the group’s AGM in Dublin yesterday (Thursday 18, May) where chief executive Alan Walsh said that the company identified some acquisition opportunities “which would give us a meaningful presence in Europe”.
The Irish based company has multiple production facilities in Canada, the US, the UK, China and Mexico and it employs approximately 2,400 people.
The Examiner reports that almost three quarters of IPL’s revenues are generated in North America, and the group is looking to balance its geographical spread.
In a statement made yesterday after IPL’s AGM, the company announced the intent to establish a new Canadian company, IPL Plastics Inc, as the holding company of the IPL Plastics group of companies.
This move will be subject to approval by the High Court of Ireland.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.
