In the wake of the sale of its Food & Distribution division to Faerch Plast in June 2018, PSB Industries has engaged a split of its activities and listing its Baikowski subsidiary, a European leader for Specialty Chemicals.
The subsidiary, which in 2017 accounted for approximately 10% of PSB Industries’ consolidated revenue, is part of a different economic environment (in terms of customers, suppliers, distribution networks etc.) from that of the Group’s main businesses (injection, assembly and decoration operations for the Luxury & Beauty and Healthcare & Industry market segments) with which it does not generate any significant synergies.
The detailed arrangements for the proposed split, which may be effective by the end of 2018, will be communicated at a later date.
“Our team continues actively to pursue its strategy aimed at concentrating PSB Industries on its core business. Once reconfigured, the new Group, stronger, more reactive and more legible, will be significantly better placed to improve its positions within all its remaining markets,” said François-Xavier Entremont, Chairman & Chief Executive Officer of PSB Industries.
The group therefore intends to strengthen its position as a pure player and global leader within its two major Luxury & Beauty (Texen) and Healthcare & Industry (Plastibell) market segments.