RPC completes acquisition of British Polythene Industries

Plastic products design and engineering company RPC announced on Tuesday the completion of the acquisition of British Polythene Industries, which it initially announced on 9 June.

“We are delighted to complete the acquisition of BPI and to welcome our new colleagues and shareholders into RPC,” said chief executive Pim Vervaat.

“This is another important step in the implementation of our Vision 2020 strategy allowing RPC to enter the European polythene films market through an established platform with attractive market positions.”

Vervaat said BPI will further broaden RPC's range of polymer conversion technologies in line with global peers, establish a new growth platform with a strong cost synergy potential whilst enhancing the group's overall polymer buying capability.

The FTSE 250 firm said that as part of the Acquisition, a total of 16,505,511 ordinary shares in the share capital of RPC have been issued and allotted to BPI's shareholders, and admission of the consideration shares to listing on the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange was taking place on Tuesday morning..

Following the issue of the Consideration Shares, RPC's issued share capital consists of 331,502,901 ordinary 5p shares with voting rights, the board confirmed, with no ordinary shares held in treasury.