December 15th, 2021

 

Dear valued customer,

 

As the year is coming to a close, I want to take this opportunity to express my sincere thanks to you for your business and support during another eventful and challenging year in 2021. While the business environment remained demanding throughout the year, with the help of our teams and your collaboration we have managed to successfully navigate some difficult waters and to develop our business further.

 

As to progress made in 2021, the most notable development was the change in ownership of Amerplast and our expansion with the Hanmere and Plasmech businesses. It is still early days in this transition process, but I and those in Amerplast who have had the opportunity to work together with our new Hanmere and Plasmech colleagues and have enjoyed the good cooperation within our extended family, recognizing the opportunities it provides.

 

Health and safety remained our utmost priority also this year, as we continued to strive for increased safety awareness and zero incidents. We launched our new Environmental Strategy, with the commitment to continue reducing the environmental impact of our operations. We rebuilt the solvent emissions burner at the Tampere factory and invested in new plate making in both Grodzisk and Tampere. The rebuilding of one of the extrusion lines at Hanmere was also completed by the end of the year.

 

Order patterns remained sporadic throughout the year, and many supply chain challenges remained. These challenges will ultimately ease and I expect stabilisation in 2022. While the drastic increase in raw material prices that we saw early in the year has levelled off, the energy prices and many associated products and services increased rapidly during the second part of the year, not least due to the economic recovery and a subsequent increase in global demand.

 

These inflationary pressures including the increased raw material prices impacted our business negatively. The sales teams have worked very hard with customers to mitigate where possible the impacts but such is the severity and speed we have been forced to pass on some element of the inflation.

 

In business there are always some unforeseen developments, and I do not expect 2022 to be any different in this sense. However, as we grow stronger we will continue to overcome different challenges, to focus on providing excellence in production and customer service, innovation and sustainable products; and to further develop our business to support our customer needs.

On behalf of the management team and shareholders, I wish you and all those dear to you a Very Merry Christmas Holiday and a Prosperous and Happy New Year!

 

 

Mark Rooney
Chief Executive Officer

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