Vannplastic Ltd. Joining forces with Epwin Group plc

By • Oct 30th, 2015 • Category: News

The shareholders of Vannplastic Ltd, which trades as Ecodek, are delighted to announce that following completion of a transaction over the weekend, the business has now become part of the Epwin Group.

Epwin Group is a manufacturer of extrusions, mouldings and fabricated low maintenance building products, supplying the Repair, Maintenance and Improvement (“RMI”), new build and social housing sectors. The group is listed on the AIM market of the London Stock Exchange and in its last financial year to 31st December 2014 achieved a pre-tax profit of some £20m on annual sales of £260m with a workforce of over 2,200.

Ecodek will operate as part of Epwin’s Extrusion business and will continue to be led for the foreseeable future by the management team who formed the business and who will continue to oversee its growth and development. Epwin has affirmed its commitment to Ecodek’s Wrexham site.

The acquisition is firmly in line with Epwin’s stated strategy to broaden its range of low maintenance building products. Ecodek’s product technology has potential for applications in other low maintenance building products and there is a high level of technical expertise within the business which, by working with Epwin’s own technical resource, will aim to develop new applications for the material’s technology, as well as continuing Ecodek’s impressive rate of growth.

Overall the deal is great news for Ecodek and the prospects for the business and its Wrexham site are very positive.

Alex Collins, Managing Director of Vannplastic Ltd, said:

“We are very excited about the opportunity that joining Epwin Group presents to our business. It will enable us to expand and further develop our product range, taking full advantage of the exciting commercial opportunities generated by our innovative materials.

We are proud of the business, its products and dedicated workforce. Becoming part of Epwin is excellent news for our employees and customers alike and we look forward to the future with confidence and enthusiasm.”

Jon Bednall, Chief Executive Officer, Epwin Group said:

“I am delighted to announce the acquisition and welcome the Ecodek team to the Group. Ecodek adds to the Group’s range of low maintenance building products and brings exciting new materials technologies into the Group as well as real developmental expertise. The rationale for the investment is to bring exposure to the growth associated with such new materials and the message to everyone at Ecodek is “business as usual”. In line with the vision of the Ecodek leadership team we see the Wrexham site becoming a centre of excellence for the Group’s expanding interests in WPC.”

About Ecodek
Vannplastic Limited trades as Ecodek and was founded in 2002 as a manufacturer of Wood Plastic Composite (“WPC”), the current primary application being a hardwood substitute for balconies and outdoor decking. Ecodek is the leading supplier of WPC products which are manufactured from recovered hardwood fibres and high density recycled polyethylene. As a consequence, it is over 90% recycled and 100% recyclable. The business is located inWrexham, North Wales and has a broad customer base from new build housing, social housing and trade. The business has developed a significant amount of know-how in the formulation and use of WPC materials and plans to expand the use of these materials in additional applications.

About Epwin
Epwin is a manufacturer of extrusions, mouldings and fabricated low maintenance building products, supplying the RMI, new build property and social housing sectors. It is best known in the construction market for its market leading window systems businesses (Profile 22 and Spectus) and its Roofline businesses (Swish Building Products, Kestrel and Kayflow).

The Company is incorporated and domiciled in the United Kingdom. It operates principally in the United Kingdom.

ecodek.co.uk

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