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Zotefoams PLC - London-based maker of industrial plastics - Completes acquisition of the assets and intellectual property of Refour APS for a "modest cash consideration". Refour is a Skandeborg, Denmark-based packaging material manufacturer. Firm says the addition of Refour's knowledge, technology and equipment will accelerate the development of the fully recyclable mono-materials it is working on through its MuCell Extrusion subsidiary.
Chief Executive David Stirling says: "Zotefoams and Refour have been following parallel paths in the development of mono-material barrier packaging but with a similar ethos; combining forces at this point, and in particular welcoming [Refour Chief Executive] Torben [Anderson] to the team, will allow us to accelerate efforts and broaden our offering for customers whose current packaging is not fit for the future."
Current stock price: 338.25 pence, up 5.10 in London on Wednesday afternoon.
12-month change: down 20%
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