Plastics manufacturer makes £1.5m acquisition

Plastics manufacturer Coral Products has acquired a company which specialises in extrusion, thermoforming and container printing.

The Wythenshawe-based designer, manufacturer and supplier of plastics products has bought Alma Products for a net consideration of £1.5m to be satisfied in cash.

The consideration for Runcorn-based Alma is being satisfied from the group’s existing resources.

Executive chairman Joe Grimmond said:  “This acquisition further reinforces our focus on niche, specialist operators in the plastics sector.

“Alma operating from its freehold Runcorn premise is very well invested in state-of-the-art sheet extrusion, volume vacuum forming and one of the most advanced computer-controlled printing facilities in the industry.

“This acquisition broadens our group’s product and manufacturing offering and greatly expands our available market opportunities.

“We expect this acquisition will be earnings enhancing in its first year.”