Handelsbanken’s AB Handel och Industri subsidiary has sold all iof ts shares in Plastal Industri AB, the parent company of the Plastal Group. The purchaser is the Canadian Plasman Group.
With this transaction, Handelsbanken has recovered the total claims that were outstanding when the former Plastal Group went into bankruptcy. The transaction will have only a marginal effect on Handelsbanken’s profits and financial position.
“This is a good conclusion to Handelsbanken’s involvement in Plastal. The company will be part of a strong industrial group where the company can continue to develop its business,” says Magnus Sternbrink, Chief Executive of AB Handel och Industri.
Plastal manufactures injection-moulded and painted plastic parts for the automotive industry. The company has four plants: two in Sweden, one in Norway and one in Belgium. The Plasman Group is a supplier of products such as injection-moulded and painted plastic to the automotive sector. The Group is based in Windsor, Canada, and has a total of eleven plants in Canada, the US and Mexico.