ICELANDIC Sæplast reports that is refurbishing its Norwegian factory which makes fenders and buoys, investing in new machinery and equipment, and is also the object of a reorganisation of a number of subsidiaries by its parent company. Sæplast said the company''s rotomoulding production was transferred to a new, independent company, Sæplast Ålesund AS, which will operate in close cooperation with Sæplast in Dalvík.
Atorka Group Ltd., the parent company has set up Promens Ltd., to take over 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., as well as a 63% share in Sæplast India Ltd.
The statement said those were performing well while the others, Ålesund, Sæplast Norge AS and Sæplast Canada Inc., which were being restructured, would remain Sæplast Ltd subsidiaries.
Erlendur G. Arnarson, director of marketing, said there would be no job losses. Promens Ltd. is in the manufacture of containers to preserve and protect food during transit and rotomoulded products, but it may also acquire some new companies.
It has recently starting selling containers to the meat industry.
Strong markets
As part of a strategy to increase its product range for the Icelandic fisheries industry, the company bought Tempra Ltd., a manufacturer of polystyrene boxes for fish and fish products on the Icelandic market.
It is also planning to increased custom-moulding services in all of the company's factories. The Dutch, Spanish and Indian plants are being expanded at the moment for this, with Sæplast Iberia getting a new oven this summer.
The strongest market for Sæplast products has traditionally being Iceland but Erlendur said they were also doing well elsewhere.
"Our products are very successful in Spain at the moment. The Norwegian market is also growing... and the Norwegian and Spanish plants cannot cope with the demand. A lot of investment is going on in fish and fish processing in Morocco. European companies are also investing on fish processing there. With new offices in China and Russia, these are markets that we are looking at with great expectations," said Erlendur.
The Middle East is also a growing market for Sæplast. As Iceland is the biggest single market the Icelandic Fisheries Exhibition is a very important show for the company.
