Friday, October 24, 2014

News: MGB becomes part of OnePlastics after Straight deal

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Rotherham-based manufacturer, MGB Plastics has become part of the OnePlastics Group, a newly launched brand targeting an ambitious growth plan over the next few years.

MGB Plastics is the UK's leading manufacturer of wheeled bins and kitchen caddies and its 5,000 sq m Barbot Hall facility has been expanded a number of times and now has the manufacturing capacity of 1.5 million wheeled bins per annum.

A deal was recently concluded that saw Dublin-based One51plc, the owner of MGB, acquire Yorkshire firm Straight plc for £10.7m. The parent company has now brought together seven businesses under a new brand called OnePlastics Group and says the new group has been created with a vision to be the leading provider of plastics products to a variety of sectors. This is set to be driven by investment within the portfolio of businesses and the launch of new products.

Conor Sugrue, commercial director of OnePlastics Group, said: "The launch of OnePlastics Group is a unique and innovative step and we have very ambitious plans for this new brand.

"The plastics division within One51plc group and businesses such as MGB Plastics have been enjoying strong growth in recent years. The creation of the OnePlastics Group brand as a separate entity will give us a strong platform to realise our vision of becoming a leading manufacturer of plastics products in each of the sectors in which we operate.

"Bringing all the businesses together with all their different capabilities makes sense from a strategic level and also gives our customers access to a very strong offering in terms of price, service and innovation.

"As part of our growth policy we will continue to invest in the businesses within OnePlastics Group. This will allow us to maintain the highest quality standards, employ talented staff and continue leading the market with new products."

OnePlastics Group will now boast a combined turnover of around £118m and will employ 450 people servicing a range of blue chip multinationals. It will design and manufacture a range of products across a number of key markets and sectors and will also offer full contract manufacturing and related services.

Turnover at Straight was £26.1m last year. Turnover on a like-for-like basis for One51's plastics division was £81.5m in 2013.

Ireland's One51 is an unlisted publicly quoted investment company with a long term approach and operates a portfolio of businesses in specialised sectors including environmental services, renewable energy and injection moulding plastics. It recently reported pre tax profits before exceptional items of £2.84m for the first half of this year, has reduced its debts and secured additional banking facilities.

OnePlastics website

Images: OnePlastics

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