April 19 2007 – VitasheetGroup, Europe’s leading thermoplastic sheet maker, showed off its new research and development centre at Julich-Kirchberg, in north western Germany, yesterday.
The facility, which cost ˆ1m, houses a range of sophisticated testing equipment as well as what the business believes is a unique four extruder sheet line for pilot scale manufacture.
Guests from across Europe saw the facility formally opened in the presence of the local mayor as well as John Oliver, chief executive of parent British Vita. The ˆ250m turnover VitasheetGroup believes that the centre, located at its biggest sheet making unit, will play a key role in driving innovation and supporting customers.
Speaking at the event, Oliver said that group-wide, British Vita plans to double its capital spending this year from 2006 levels and add a further 30% next year, with a strong East and Central European focus. A total of five new and upgraded plants will be included this year and a further five next year in the region, said Oliver, the former GE man who took the reins at British Vita in December last year.
Oliver also took the opportunity to praise the benefits of private ownership for the company, which is owned by venture capital player Texas Pacific Group.
“It is a huge advantage to be privately owned,” he said, highlighting the long term horizons which the model offers.
He pointed to the turnaround achieved at iconic Italian motorcycle cycle maker Ducati which was “virtually bankrupt” when TPG took it over, transforming it into a high value and profitable firm before selling it last year.
