Dublin – January 22, 2016 – One51 plc, a leading plastics and environmental services operator, today announces that it is investing €8 million in its OnePlastics Group subsidiary, Protech Plastics (“Protech”), in Cork, Ireland and is also expanding the OnePlastics Group manufacturing facility in Shanghai, China.
The investment in Ireland will result in the development of a state of the art food grade manufacturing facility located at Protech’s existing site at Little Island, Cork. The investment is targeted at enabling Protech to produce innovative packaging products to support the growing Irish food industry.
The investment will result in the new food grade manufacturing facility adopting best in class production technologies and automation. This expansion will result in the number of people employed by Protech increasing from 100 to 125 over the next two years.
OnePlastics Group also operates a facility located near Shanghai, China supplying products to its multinational clients. As part of its continued expansion, One51 will also invest to double the size of OnePlastics Group manufacturing facility in Shanghai. This expansion is required to cater for rising customer demand and also to ensure that our facilities are appropriately configured for future customer growth.
Protech supplies leading-edge containers to a range of customers and designs and manufactures specialist plastic components for multinational firms in the nutrition, pharmaceutical and data storage sectors. Protech’s facility at Cork also hosts the OnePlastics Group’s dedicated Innovation Centre of Excellence which was established in 2015 to foster innovation and new product development across the OnePlastics Group.
Donagh Murphy, Director of Operations, Protech, said:
“Today’s announcement represents an exciting development and the next step in the future growth of Protech into an industry leader in the design and manufacture of innovative plastics packaging and product solutions for our customers.”
Alan Walsh, Group Chief Executive, One51 plc, said:
“Our recent acquisition of IPL Inc. has provided us with a considerable product portfolio and competence in the design and manufacture of innovative food grade packaging products. We intend to leverage this knowledge through Protech’s new facility and to develop products to support indigenous Irish food companies as they continue to grow and expand in the global marketplace. The expansion of Protech’s facility is an exciting opportunity for the Group and one that we will seek to grow in the future.”
Investor Enquiries
www.one51.com
Alan Walsh, Chief Executive Officer
+ 353 1 612 1375
Pat Dalton, Chief Financial Officer
+ 353 1 612 1377
Robert Burns, Group Head of Corporate Development
+ 353 1 612 1377
About One51
One51 comprises two operating businesses focused on plastics and environmental services. One51 is headquartered in Dublin, Ireland and has operations in Ireland, the UK, Canada, the USA and China.
Forward Looking Statements
This statement contains forward-looking statements which reflect management’s current views and estimates. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. Management undertakes no responsibility to revise any such forward-looking statements to reflect any changes in management’s expectations or any change in circumstances, events or the Group’s plans and strategy. Accordingly, no reliance can be placed on the figures contained in such forward-looking statements.
Download the Press Release
http://www.one51.com/~/media/Files/O/One51/news/2016-Protech-Announcement.pdf
