STOROPACK INCREASES SALES BY NEARLY FIVE PERCENT COMPARED TO THE PREVIOUS YEAR
Metzingen, October 2019. Protective packaging specialist Storopack has successfully completed the year 2018. Last year, the international Group based in Metzingen generated consolidated revenue of €476 million with around 2,520 employees at 66 locations, which corresponds to growth of around five percent. Adjusted for exchange rates, growth in sales was around seven percent.
All of the regions and both divisions, Molding and Packaging, contributed to the positive business development. Storopack generated more than half of its revenue in Europe (54 percent), around a quarter in North America (26 percent), and just over 17 percent in Asia-Pacific, with South America and other countries contributing nearly three percent combined.
Nonetheless, the 2018 net income was lower than that of the previous year and fell short of internal targets. Exceptionally large increases in raw material and transport costs could only be passed onto customers over a period of time and not in full.
Focus remains on Sustainability and Recycling
“Thanks to its product portfolio developed over decades, Storopack is very well positioned when it comes to products with a high recycling percentage and products made from renewable raw materials. We also launched a great many new sustainable products last year, including the AIRplus® Void Recycle air bubble film, which is made from at least 50 percent recycled material, and a new type of paper, half of which is made from the renewable raw material grass,” says Hermann Reichenecker, Chairman of the Management Board. Storopack also manages its energy efficiently and has invested significantly in minimizing carbon emissions and energy consumption at its locations.
To boost sustainability in the use of plastics, Storopack is involved in initiatives dedicated to combating plastic waste such as Big Blue Ocean Cleanup, Operation Clean Sweep, and the Alliance to End Plastic Waste. The company also supports BASF’s innovative ChemCycling pilot project, through which Storopack has already produced prototypes based on chemically recycled plastic waste and is thus breaking new ground in the circular economy with BASF.