Plantic’s European changes start to ‘deliver progress’

The Australian firm told its annual general meeting that "with hindsight" sales projections for rigid sheets in Europe and injection-moulding resins in the US were "far too optimistic".

The firm has since made changes to its European structure and management team, which are starting to "deliver progress".

It added that projected sales in the US would come through during 2008.

Plantic chairman Ian Wightwick said the company had improved the quality of its rigid sheets by fitting "state-of-the-art" automated controls to achieve "uniform gauge" and "effectively" detect defects on its sheet line.

It said highlights of 2007 included Brendan Morris taking over as acting chief executive following the departure of Grant Dow. He assumed the role full-time in March 2008.

Wightwick praised Morris for bringing to fruition partnerships with National Starch, Bemis and DuPont, and a renegotiated agreement with Amcor.

The firm is considering building a rigid sheet manufacturing plant in Europe to meet projected demand, improve the supply chain and saving on freight costs from Australia. Plantic is being supported in this plan by its European sheet thermoformer customers.

UK customers for Plantic's products include Marks & Spencer and Sainsbury's.

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