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Plastic products maker RPC Group Plc announced that it wants to sell its satellite businesses in Romania and Poland, as well its distribution businesses in Germany, given shrinking market demand, according to Reuters.
The company will also close five sites, of which two in Holland, and three others in Czech Republic, Great Britain and Italy. The distribution business in Germany had a turnover of some ,13m pounds in the last year.
The company had a 9% revenue growth in the Q3, given the appreciation of the Euro and the price increase.
RPC estimates the steady state improvement in operating profit from plant optimization will be ,8m pounds, with the full benefits being realized in the financial year 2011/12.
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