Acquisition of Rosti AS completed at 17.7 million €

30 January 2006, Polimoon announced the acquisition of the packaging business of Rosti AS in Germany and Denmark on 9 January. Rosti AS is a subsidiary in A.P. Møller – Mærsk A/S. The agreement is now completed. The acquisition was concluded at the price of 17.7 million € financed by bank debt drawn from current bank acquisition facility.

Rosti AS has annual sales of 40 million € (320 mNOK) and approximately 290 employees. The business operates four factories in Germany and one in Denmark. Excluded from the acquisition is one German and Rosti’s Swedish operation of PET bottles.

“We have visited several of Rosti’s customers since the agreement was signed 9 January, and I am very pleased with their positive response to the change in ownership. The customers realise the benefits the acquisition provides through broader product range and geographical presence in Europe, says Arne Vraalsen, President & CEO.

Over the next two to three months we will evaluate our operations to identify how benefits and synergies most effectively can be materialised as a new, combined group. It is estimated that significant synergies will be achieved, particularly in Denmark.

The enlarged Polimoon Group will have sales of 380 million € (3 billion NOK) employing 2740 people in 13 countries throughout Europe.

Polimoon holds a leading position within manufacturing, developing and selling of plastic products with 27 operations in thirteen European countries. 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. In addition the Group has some production of customised products to other industries, such as the marine and leisure industry. Polimoon has approximately 2740 employees with 450 employed in Norway, where also head office is located. In 2004 Polimoon Group had a turnover of 2 494 million kroner and an EBITDA of 274 million kroner.

Contact Information

Lill Beate Pedersen

Investor Relations

Polimoon

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