Stella Plastic to acquire Tielmans Plastindustri
Stella Plastic, which is a wholly owned subsidiary to Nordstjernan, is to acquire 100 percent of the shares in Tielmans Plastindustri AB from the current owner Anders Tielman. Stella Plastic is the owner of GP Plastic.
Tielmans Plastindustri produces technical injection mouldings for leading industrial companies, where quality and delivery assurance is top priority. The company had sales of SEK 70 million during 2007 and has a production plant in Linköping. More information on Tielmans Plastindustri is available on the company’s website, www.tpiab.se.
GP Plastic produces injection-moulded plastic details for the food and medical technology industries. GP Plastic had sales of SEK 505 million in 2007 and has production plants in Gislaved, Sweden and Dresden, Germany. More information on GP Plastic is available on the company’s website, www.gp-plastic.com.
“Tielmans Plastindustri is a strong company with a distinct quality profile and from the start we felt that we had a lot in common in terms of strategies and values. We look forward to continuing the development of the company. Tielmans Plastindustri is Stella Plastic’s first acquisition and I am convinced that there will be more acquisitions in the future,” says Börje Vernet, who has been President of Stella Plastic for a year and is responsible for driving the expansion.
“Through their industrial know-how and long-term commitment, Nordstjernan and Stella Plastic feel like the perfect owners of the company, now that I have decided to cut back on my professional life,” says current owner, Anders Tielman.
Acquisition of shares is planned for June 30, 2008. The parties have agreed not to announce the purchase consideration.
Questions are answered by:
Börje Vernet, President of Stella Plastic, +46 70 298 46 67.
Mats Heiman, Chairman of the Board of Stella Plastic and Senior Investment Manager at Nordstjernan, +46 70 810 74 89.
Anders Tielman, owner of Tielmans Plastindustri, +46 70 590 84 91.