Acquisition - Gibo Plast A/S, a subsidiary in SP Group A/S, acquires Scanvakuum ApS

On 1 January 2015, Gibo Plast A/S takes over the activities in Scanvakuum ApS.

Scanvakuum - the former Falkenberg Plast, with focus on vacuum forming and 5-axis CNC machining, is taken over by Gibo Plast A/S. Scanvakuum ApS is a minor vacuum forming company in Sorø.

Gibo Plast A/S is one of the leading manufacturers of vacuum formed plastics in Scandinavia for many different industries in different materials. With factories in Denmark and Poland Gibo has created a platform that makes it possible to solve many different projects; from low volume and high complexity to the contrary, and with room for both large and small customers. Read more about Gibo Plast on www.gibo.dk

Lars Ravn Bering, managing director of Gibo Plast A/S, explains the purchase as a strategic initiative with strong synergies, as the opportunity was presented. Gibo would like to expand and develop its role as a leading provider of technical articles in thermoformed plastic for Danish and international clients.

René Borggaard, owner of Scanvakuum explains the sale as a change in strategy, with the desire to have a greater focus on blow moulding and composite production in the future.

Customers will now be served by Gibo’s customer service function in Skjern, where also technical support is located. All employees at Scanvakuum are informed and offered jobs elsewhere in the group behind Scanvakuum.

"We look forward to continue the good cooperation with Scanvakuum’s customers in a good and positive spirit," says Frank Gad.

The plan is to move machines and tools to Gibo’s plants during the first quarter of 2015 and close the factory in Sorø afterwards.

Gibo Plast is part of SP Group A/S, which primarily manufactures moulded plastic as well as coatings. SP Group is a leading supplier of plastic manufactured products for the industry in Denmark and has significant exports and production from own factories abroad. SP Group is listed on NASDAQ Copenhagen and has approximately 1,200 employees.

As the acquisition takes place on the 1 January, 2015 it will not have any effect on the expectations for the FY 2014 latest announced on the 4 November, 2014. The acquisition of the Scanvakuum activities is expected to contribute positively to revenue and earnings in 2015 and in future.

Incase of any discrepancies, the Danish version shall prevail.

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