Rosti splits to accelerate growth
The global injection moulding company Rosti is owned by the Swedish investment company Nordstjernan. Rosti Group's Board of Directors has decided to create two separate Groups out of the current Rosti Group. The present Automotive division with four manufacturing sites in the UK, will form its own Group and be called Rosti Automotive. The remaining Rosti will continue as Rosti Group and develop its business within Packaging, Consumer & Professional Appliances, Business Machines, and Life Sciences. Both Groups will still be owned by Nordstjernan.
Mats Heiman, Chairman of the Rosti Board, comments: “The challenges and opportunities are very different within the two businesses, so too are the markets and customers they serve. The split will allow both companies to focus on their unique agendas thereby accelerating initiatives to develop their businesses.”
Brendan Colgan, CEO at Rosti since March 2016, will remain CEO of Rosti Group. He comments: “I see a very promising outlook for 2017 and onwards. We will focus on how our businesses in Asia can take additional steps to grow in that region, both organically and through acquisitions. Our businesses in Europe will continue to develop opportunities to grow their offering and customer base.”
Joachim Magnusson, who joined Rosti as EVP Rosti Automotive in 2016, will take the position as CEO of Rosti Automotive. He comments: “There has been significant investment in the Automotive division over the last number of years. Our customers have been instrumental in our growth and the split will allow us to accelerate and focus on continued development.”
Roar Isaksen, who has held various leading positions in Volvo and has extensive automotive experience, will be Chairman of the Rosti Automotive Board. He comments: “I am excited to be a part of the new Rosti Automotive Group. The Split brings increased focus to the business and going forward there are interesting market opportunities for further growth and development”.
Rosti and Rosti Automotive will start operating independently effective immediately however the full legal separation requires further work and is anticipated to be completed by June 2017.
For more information:
Brendan Colgan, CEO Rosti Group
Phone: +44 (0)7796 006633
Rosti Group is a global plastics injection moulding company and subcontract manufacturer headquartered in Malmö, Sweden and with manufacturing sites in China, Malaysia, Sweden, Germany, Poland, Romania, Turkey and the UK. Rosti is owned by the Swedish investment group Nordstjernan. Rosti is rapidly expanding, organically and through acquisitions. For further information, please visit www.rosti.com and www.nordstjernan.se