ERJ staff report (DS)
Ã…mÃ¥l, Sweden -- Twelve months ago the then TPE division of Vita group was acquired by Hexpol AB. TPE was new to Hexpol and the acquisition consisted of two manufacturing sites Manchester UK based Vita Thermoplastic Polymers and Elastoteknik, based in Amal Sweden. Now renamed Elasto, the business continues to operate from both its Amal and Manchester facilities.
Elasto issued a statement to mark the 12-month anniversary. It said, "For Elasto, as well as a new brand and identity, it has become a spearhead business within the Hexpol group. The company has over the last year expanded both geographically and by increasing its penetration, with ever widening applications in the household, medical, automotive, construction, industrial and caps and closures markets. "
Elasto managing director Per G. Hellberg said. â€œOur first year as part of Hexpol has been a very exciting and busy time in our evolution. We reported increased sales last year and expect sales to continue at record levels for the foreseeable future. Elasto's product is an excellent strategic fit with the group's traditional offerings and this, together with the financial resources available to us, will mean expansion; both organic and by acquisition.â€ He continued. â€œIt's no secret that Hexpol is aggressively pursuing the acquisition trail nor that TPE is a polymer itself poised for real growth. Our job over the next five years is to maximise those two opportunitiesâ€
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Press release from Elasto