Promens
Encyclopedia
Promens hf is an Iceland
ic holding company with primary interests in rigid plastics manufacturing.
It is majority owned by Icelandic investment companies Horn Invest and The Enterprise Investment Fund.
Promens' headquarters are in Kópavogur
, Iceland
.
Promens operates 45 manufacturing in 19 countries, with 4200 employees, and total sales exceeding EUR 580 million in 2010.
After extensive adoption by the Icelandic fisheries industry, the company began exporting its products worldwide. In 1993, Sæplast won the President of Iceland's Export Award. The same year Sæplast was listed on the Icelandic Stock Exchange.
During 1999-2000 Sæplast acquired three companies abroad; in 1999 the Dyno AS factories in Ålesund
, Norway and St. John
, Canada, and in 2000, Nordic Supplies Container AS of Norway
.
This expanded Sæplast's product range from rotationally molded tubs to include floats and safety equipment for the marine industries. As a result of these acquisitions, Sæplast's turnover increased by 400%, with 40% of the company's turnover now coming from the floats and safety equipment. During this time, the number of overseas employees reached three times the personnel in Iceland.
.
In 2001 Sæplast Asia was established in Hong Kong. In 2002, Icebox Plastico, Spain was acquired by Sæplast, and in 2003 Plasti-Ned of Holland was also acquired by Sæplast.
Atorka Group of Iceland purchased a majority interest in Sæplast in 2004 and delisted the company from the ICEX
. In 2004 the largest Icelandic company in the field of expandable polystyrene production, Tempra hf was acquired by Sæplast.
In May 2005, Promens hf was formed to take over several of Sæplast's subsidiaries: Sæplast Dalvík ehf, and Tempra hf. in Iceland, Plasti-Ned BV and Sæplast Holland BV. in the Netherlands, Sæplast Iberia S.A. in Spain, Sæplast Asia Ltd. in Hong Kong and Sæplast UK Ltd., a 63% share in Sæplast India Ltd. Sæplast Ålesund AS., Sæplast Norge AS. and Sæplast Canada Inc. remained under Sæplast hf.
In July 2005 the company made its largest acquisition, the Bonar Plastics division from Low and Bonar Plc, adding eleven rotomolding plants in ten countries within Europe and in North America. Sixty-five percent of the sales of Bonar Plastics is derived from custom moulded products manufactured for other producers of industrial products.
At the time of the acquisition Bonar Plastics produced parts for at least 15 industries and blue-chip customers include DaimlerChrysler
, Caterpillar
, John Deere
, Peugeot
, Renault
and Volvo
. At the time 35% of its sales were its own products, particularly tubs and tanks for storage and transportation of materials for the chemical, pharmaceutical and food industries.
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
ic holding company with primary interests in rigid plastics manufacturing.
It is majority owned by Icelandic investment companies Horn Invest and The Enterprise Investment Fund.
Promens' headquarters are in Kópavogur
Kópavogur
Kópavogur is a city and Iceland's second largest municipality, with a population of 30,779.It lies immediately south of Reykjavík and is part of the Greater Reykjavík Area. The name literally means seal pup bay...
, Iceland
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
.
Promens operates 45 manufacturing in 19 countries, with 4200 employees, and total sales exceeding EUR 580 million in 2010.
After extensive adoption by the Icelandic fisheries industry, the company began exporting its products worldwide. In 1993, Sæplast won the President of Iceland's Export Award. The same year Sæplast was listed on the Icelandic Stock Exchange.
During 1999-2000 Sæplast acquired three companies abroad; in 1999 the Dyno AS factories in Ålesund
Ålesund
is a town and municipality in Møre og Romsdal county, Norway. It is part of the traditional district of Sunnmøre, and the center of the Ålesund Region. It is a sea port, and is noted for its unique concentration of Art Nouveau architecture....
, Norway and St. John
Saint John, New Brunswick
City of Saint John , or commonly Saint John, is the largest city in the province of New Brunswick, and the first incorporated city in Canada. The city is situated along the north shore of the Bay of Fundy at the mouth of the Saint John River. In 2006 the city proper had a population of 74,043...
, Canada, and in 2000, Nordic Supplies Container AS of Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
.
This expanded Sæplast's product range from rotationally molded tubs to include floats and safety equipment for the marine industries. As a result of these acquisitions, Sæplast's turnover increased by 400%, with 40% of the company's turnover now coming from the floats and safety equipment. During this time, the number of overseas employees reached three times the personnel in Iceland.
.
In 2001 Sæplast Asia was established in Hong Kong. In 2002, Icebox Plastico, Spain was acquired by Sæplast, and in 2003 Plasti-Ned of Holland was also acquired by Sæplast.
Atorka Group of Iceland purchased a majority interest in Sæplast in 2004 and delisted the company from the ICEX
ICEX
The word ICEX has several meanings:* ICEX is an abbreviation for the Indian Commodity Exchange*ICEX is an abbreviation for the Iceland Stock Exchange...
. In 2004 the largest Icelandic company in the field of expandable polystyrene production, Tempra hf was acquired by Sæplast.
In May 2005, Promens hf was formed to take over several of Sæplast's subsidiaries: Sæplast Dalvík ehf, and Tempra hf. in Iceland, Plasti-Ned BV and Sæplast Holland BV. in the Netherlands, Sæplast Iberia S.A. in Spain, Sæplast Asia Ltd. in Hong Kong and Sæplast UK Ltd., a 63% share in Sæplast India Ltd. Sæplast Ålesund AS., Sæplast Norge AS. and Sæplast Canada Inc. remained under Sæplast hf.
In July 2005 the company made its largest acquisition, the Bonar Plastics division from Low and Bonar Plc, adding eleven rotomolding plants in ten countries within Europe and in North America. Sixty-five percent of the sales of Bonar Plastics is derived from custom moulded products manufactured for other producers of industrial products.
At the time of the acquisition Bonar Plastics produced parts for at least 15 industries and blue-chip customers include DaimlerChrysler
DaimlerChrysler
Daimler AG is a German car corporation. By unit sales, it is the thirteenth-largest car manufacturer and second-largest truck manufacturer in the world. In addition to automobiles, Daimler manufactures buses and provides financial services through its Daimler Financial Services arm...
, Caterpillar
Caterpillar
Caterpillars are the larval form of members of the order Lepidoptera . They are mostly herbivorous in food habit, although some species are insectivorous. Caterpillars are voracious feeders and many of them are considered to be pests in agriculture...
, John Deere
John Deere
John Deere was an American blacksmith and manufacturer who founded Deere & Company, one of the largest and leading agricultural and construction equipment manufacturers in the world...
, Peugeot
Peugeot
Peugeot is a major French car brand, part of PSA Peugeot Citroën, the second largest carmaker based in Europe.The family business that precedes the current Peugeot company was founded in 1810, and manufactured coffee mills and bicycles. On 20 November 1858, Emile Peugeot applied for the lion...
, Renault
Renault
Renault S.A. is a French automaker producing cars, vans, and in the past, autorail vehicles, trucks, tractors, vans and also buses/coaches. Its alliance with Nissan makes it the world's third largest automaker...
and Volvo
Volvo
AB Volvo is a Swedish builder of commercial vehicles, including trucks, buses and construction equipment. Volvo also supplies marine and industrial drive systems, aerospace components and financial services...
. At the time 35% of its sales were its own products, particularly tubs and tanks for storage and transportation of materials for the chemical, pharmaceutical and food industries.