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Polimoon to acquire Novoplast from Kalina Concern in Yekaterinburg, Russia


WEBWIRE –

20 December 2006

The Kalina Concern is one of the largest producers of personal care products in Russia with a wide range of products for skin, oral and hair care products including fragrances. Kalina has grown rapidly over the years. Packaging for the Kalina’s products have partially been manufactured in the subsidiary Novoplast and partially sourced from external suppliers such as Polimoon. Kalina is widely recognised for its premium products and growth. Polimoon has worked with Kalina for the last seven years.

With the acquisition of Novoplast, Polimoon cements the status as a key supplier and developer of personal care packaging to the Kalina Concern. Polimoon will also use Novoplast as a platform to develop business in Russia.

“We believe it is a great opportunity with the acquisition of Novoplast in Yekaterinburg, Russia; On the one hand it strengthens our relationship with Kalina, allowing us to supply locally in Russia. Secondly it will be a base where we can develop a manufacturing presence in Russia and take part in a growth market” says CEO of Polimoon, Arne Vraalsen. Polimoon will invest to both upgrade and expand the capacity in Novoplast.

The acquisition is subject to regulatory approval. This is expected to be obtained early in 2007.

Polimoon holds a leading position within manufacturing, developing and selling of plastic products with 41 operations across Europe. Polimoon develops, manufactures and sells a wide range of packaging products within the consumer, chemical and medical industries as well as components to the automotive industry. Polimoon has approximately 4 300 employees with 370 employed in Norway, where the head office is located. Annual sales are in excess of 4,5 billion NOK.

Examples of products include bottles for sauces, shampoos, disinfectants, deodorants, canisters for hazardous chemicals, IV bags for medical care, and interior engine components for the passenger car and truck industry.

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