Plasmax system sales are expected to reach E190m by 2014

While presenting its 2006 first half results in Zurich this morning, SIG Holding has said that its Plasmax barrier coating solution for PET bottles is one of three future value drivers for the company, pointing out that Plasmax sales are expected to grow from ?52m in 2009 to ?190m by 2014, enabling EBIT break-even in 2010. The company used the opportunity of presenting its results to comment on the acquisition approach being made by FERD, saying that the tender offer to be made to shareholders undervalues the company.

SIG says its shares are worth more than SFR350, adding that it has started an auction process that has resulted in “indications of interest from industrial and financial parties”. As the FERD offer is expected to be published by 6 November, SIG Holding says that counter offers may be filed up to 12 December.

SIG Holding achieved net sales of Euro 586m in its Combibloc carton packaging in the first half, up 10.2%, while its SIG Beverages (PET packaging) operation turned in Euro 63m (up 16.7%). Sales for the full year are expected to reach Euro 1,210m for Combibloc and Euro 145m for SIG Beverages, up from Euro 125m in 2005.