Athlone acquisition strengthens Barlo Plastics market lead.

Geel, Belgium January 2001, Barlo Plastics Europe, has today announced the take-over of the Irish company, Athlone Extrusions plc. Barlo Plastics Europe holds the European market lead in manufacture of transparent plastic sheets and Athlone deals in polystyrene and ABS sheet extrusion.

In conjunction with Barlo Group, Barlo Plastics now owns 43,850,415 ordinary Athlone shares, some 94.38 per cent of the ordinary share capital issued.

Athlone, whose core business activity is the extrusion of polystyrene sheet and film, and ABS sheet (including acrylic capped ABS) has its shares listed on both the London and Irish Stock Exchanges. Its expertise in the production of coloured plastic sheets and the extensive range of colours it offers (over 7,000) illustrates the company’s commercial strength.

‘The acquisition of Athlone enables Barlo Plastics to significantly expand its market presence in the European sheet plastics industry. Athlone’s strength in this area combined with Barlo Plastics’ European distribution network are the key benefits of this acquisition’ comments André De Smet, Managing Director of Barlo Plastics Europe.

Barlo Plastics doesn't intend to implement any major changes in the running of Athlone as part of the enlarged group.

Jack Hayes, non-executive Chairman of Athlone said :’We believe this take-over serves the best interests of everyone concerned with Athlone. The business case for working as part of a wider pan-European company is overwhelming.’

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