HOOGLEDE-GITS, BELGIUM, Dec. 6 -- The Deceuninck Group, a leading European supplier of PVC compounds and extruded products, is closing extrusion operations at its Uniplast subsidiary in Estaimpuis after failing to meet business targets the last two years.
Uniplast extruded flexible pre-cabled conduits and protective pipes from polypropylene and polyethylene respectively. Machinery and customer lists have been sold to an undisclosed buyer and the site and buildings are up for sale, according to the company. A restructuring program has been arranged for the 14 displaced workers.
Due to a stagnating conduit market and severe competition, Uniplast, was also unable to realize targets set for 2001. Raw material prices, which in 1999 reached an all-time low, rose steeply shortly after Deceuninck's takeover of Uniplast in 1999. In 2001, Uniplast achieved sales of EUR 2.36 million (US $2.4 million) versus EUR 2.39 million (US $2.41 million) in 2000. Results were below expectations in 2002, the company said.
The Deceuninck Group has a workforce of 1694 and posted sales of 351 million EUR (US $354 million) in 2001.