PartnerPlast AS acquires Molstad Modell & Form AS
PartnerPlast AS from Aandalsnes, a supplier of advanced equipment to the international seismic and offshore industry,
acquires the model and mold workshop Molstad Modell & Form AS located in Moelv, Norway.
Molstad Modell & Form (Molstad) has through many years been a supplier to PartnerPlast, and has over time specialized in delivering projects and molds to produce products in polyurethane.
─ The acquisition of Molstad is a central next step in our growth strategy. We strengthen our in-house competence on modelling and molds, and get an organization that can handle production of products in polyurethane which PartnerPlast shall take a strong position on going forward, says CEO Tom Samuelsen in PartnerPlast.
PartnerPlast launched new polyurethane products to the seismic industry during the EAGE fair earlier this year. Molstad has been a significant contributor to this development. In addition to being a leading player within the core area, Molstad has also developed a solid position among the industry in Oppland and Hedmark.
─ PartnerPlast wants to continue developing the strong organization and competence that is already in place at Molstad. We do this through establishing a production line that can produce products in polyurethane in the Molstad facilities. We also want, through Molstad, to work closer with the industry in Hedmark and Oppland, says Tom Samuelsen.
Molstad will stay as a separate entity and localized in Moelv where further expansion and growth will be the focus. The acquisition will not affect the current customers of Molstad Modell & Form. The current CEO of Molstad, Tor Henning Molstad, will stay in the role going forward.
─ We know PartnerPlast well through many years of cooperation and has a strong belief that they will be a good owner of Molstad. This will strengthen the company and by that, the conditions to supply even better products and services to current and new customers. I look very much forward to lead the company going forward, says CEO and founder of Molstad Modell & Form AS Tor Henning Molstad.
Molstad Modell & Form AS had revenues of 11 MNOK in 2014 and has 9 employees. The company was founded in 2002 and is localized in Moelv.
PartnerPlast AS is localized in Aandalsnes and has 44 employees. Total revenues in 2014 was 140 MNOK. The company is leading within design, construction and rotational moulded polymers and is a important supplier of offshore, seismic and industry products.
PartnerPlast AS is owned by Investinor, Salvesen & Thams Invest AS, Norsk Mineral and Oskar Invest AS.
CEO PartnerPlast Tom Samuelsen, +47 901 40 845
CEO Molstad Modell & Form Tor Henning Molstad, a href=”tel:+4791702576″>+47 917 02 576