Page 32 - Plastics News August 2020
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RadiciGroup registers Q4 Sales EUR 1,092 Coveris unveils plan to invest £3.5m in
million Amberley Labels
adiciGroup – an Italian multinational with 3,100
Remployees in 16 countries, engaged in the
chemicals, engineering polymers, fibres and
nonwovens businesses – closed financial year 2019 with
consolidated sales revenue of EUR 1,092 million and
EBITDA of EUR 165 million. The results obtained were in
line with the budgeted figures and were attained
through the strategy of focusing on those Group
businesses that were strategic, synergistic and of
interest in the medium term. The goal of the Group's
S ustainable packaging solution provider Coveris has
announced plans to make an investment of £3.5m
in Amberley Labels. The investment is in line with the
company's growth strategy in the high-end and luxury
labelling sector. Starting September this year, the
company is planning a major growth strategy for
various sectors including beverage, personal care and
fragrance. Coveris will add new capabilities in multi
approach was to improve its competitive position and format print and embellishment, including foiling,
achieve an overall balance among the geographical
embossing, screen printing and other specialist
areas where it operates in order to reduce dependency
techniques. The company acquired Amberley in August
on single markets and increase cash flow to finance
last year. In addition to the upgradation of Amberley's
new initiatives in its strategic businesses. Crucial to visual identity, Coveris announced that it will be
maintaining the Group's competitiveness and
moving its Boston Tenens Way site under the Amberley
development in 2019 was the decision to continue
brand. With this move, it will support label growth
allocating sizeable investments – totalling over EUR 45
outside of the core FMCG retail sector. Meanwhile, its
million – to the constant technological upgrading of other UK label sites including Cramlington, Boston
plant and equipment, as well as to business (Lealand Way) and Spalding will remain unchanged.
sustainability. In particular, EUR 7.6 million was With 30,500 ft2 of manufacturing space, and 49,000
earmarked for implementing Best Available ft2 of warehouse capacity, the Coveris' Boston site,
Techniques, enhancing energy efficiency, emission will be used to support the company's future growth
abatement and R&D activities aimed at adding to low plans. Coveris Graphics, Labels & Board division
environmental impact processes and products. The business unit president Dennis Patterson said: “The
investments made in 2019 to further RadiciGroup investment and additional processes required to meet
growth brought the total amount allocated during the the demands of new markets will deliver a major step
2015-2019 five-year period to EUR 216 million. On the change in our operations, which will see us shift
acquisitions front, in the first few days of 2020, the change from a traditional large scale, high-speed
purchase of Radici Plastics France SA shares was service model to a more targeted bespoke quality
completed, thus giving RadiciGroup a majority interest offering across two sites. “Given the heritage,
in the French company engaged in the sale of reputation and quality culture associated with the
engineering polymers. The Group also acquired Zeta Amberley name, we are proud to extend this and are
Polimeri Srl, an Italian company specializing in the looking forward to launching our next generation
recovery of synthetic fibres and thermoplastics. visual identity in September.”
August 2020 30 Plastics News
