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Portola Tech: Bounces back

After its purchase by Wayzata, an American investment fund, Portola Tech now enjoys new financial means and has engaged itself in an ambitious policy of investment and diversification.

Massive industrial investments

This is one of the breaking news of this fall. The Portola Tech company owned by the Portola Group moves up a gear by simply doubling the production areas of its two plants in Czech Republic and China and above all…by starting a brand new factory in the United States to replace the obsolete historical one. Total cost of the operation, 5 million dollars.

Dan Carter, Portola Tech’s Vice President of Sales

Dan Carter, Portola Tech’s Vice President of Sales

An industrial entity that made quite a comeback! In November 2008 the Portola Group, one of the largest producers of closures for beverages (3,000 people, 260 million dollars in turnover, 14 plants), due to financial difficulties, is sold to the U.S. investment fund, Wayzata. The Portola Tech entity (35 million dollars in turnover) specialized in the segment of cosmetics (caps and plastic jars) on the contrary is doing well but is part of the deal. At this time, the firm had the particularity of producing both thermoset and plastic injected products.

Today, we have every reason to be glad about it,” says Dan Carter, Vice President of Sales. “With the arrival of new investors, we now have the means of our development policy, not only in the United States but also worldwide and especially in Europe”.

No sooner said than done.... The new management team decides to simply double the size of the two plants in the Czech Republic and in China, respectively from 3,000 m2 to 6,000 m2 for the first and 5,000 m2 to 10,000m2 for the second, by providing in addition, state-of-the-art injecting equipment. As for the historical American factory, it was moved out and sold and all its equipment was re-installed to be re-used, this month, in a brand new factory of 6,500 m2.

Opening to the make-up

An industrial investment strategy coupled with a new product-based approach of the market of cosmetics as the Group has also decided to begin producing makeup boxes and lipstick tubes. A huge step forward which completes the existing range of closures and jars.

Jean-Luc Narcisse, Portola Tech’s Director of Sales in Europe

Jean-Luc Narcisse, Portola Tech’s Director of Sales in Europe

It is, of course, the plant located in Czech Republic, explains Jean-Luc Narcisse, Director of Sales in Europe, that becomes the Group’s European unit par excellence”.

Note that the firm now offers in its range of jars and closures an equivalent proportion of standard products and specific products.

Targeted turnover of Portola Tech in 2010: 40 million of US dollars.

Jean-Yves Bourgeois

© 2009 - Premium Beauty News - www.premiumbeautynews.com
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