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Nampak to revamp plastics business
Nampak CEO Andre de Ruyter says the European business has been downsized, with Nampak agreeing to sell some of its plants
Packaging manufacturer Nampak is restructuring its plastics business in SA and Europe amid a fall in profits from the division, management said on Tuesday. The group announced impairments of R247m attributable to Nampak Plastics Europe after a major customer in the dairy industry decided to start making its own bottles. Nampak CEO Andre de Ruyter said the European business had been downsized, with Nampak agreeing to sell some of its plants to that customer. “We’re busy developing other markets to replace the volume that we’ve lost,” he said. “We are looking at applying the same light-weighting technology that we used so successfully for dairy and selling that same technology to other plastic bottle customers.” Nampak had also appointed a new MD and chief financial officer in Europe. “We’re already seeing the results come through in improved safety performance and efficiencies and we fully expect improved profitability will follow in the next financial year,” said De Ruyter. In SA, N...
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