News,
Rosti splits to speed up growth
The global injection molding company Rosti is owned by the Swedish investment company Nordstjernan. Rosti Group’s Board of Directors has decided to create two separate Groups from the current Rosti Group. The present Automotive division, with four manufacturing sites in the UK, will become its own Group and be called Rosti Automotive. The remaining Rosti will continue as Rosti and will develop its business within Packaging, Consumer & Professional Appliances, Business Machines, and Life Sciences. Both Groups will continue to be owned by Nordstjernan.
Mats Heiman, Chairman of the Rosti Board, comments:
“The challenges and opportunities are very different in the two businesses, as are the markets and customers they serve. The split will allow both companies to focus on their unique agendas, accelerating initiatives to develop their businesses.”
Rosti: Focus on Asia
Brendan Colgan, CEO at Rosti since March 2016, will remain CEO of Rosti. He comments:
“I see a very promising outlook for 2017 and beyond. 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 expand their offerings and customer base.”
Rosti Automotive: Focus on Continued Development
Joachim Magnusson, who joined Rosti as EVP Rosti Automotive in 2016, will take the position of CEO of Rosti Automotive. He comments:
“There has been significant investment in the Automotive division over the past several years. Our customers have been instrumental in our growth, and the split will let us accelerate and focus on continued development.”
Roar Isaksen, who has held various leading positions at Volvo and has extensive automotive experience, will be Chairman of the Rosti Automotive Board. He comments:
“I am excited to be 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 expected to be completed by June 2017.
For more information:
Brendan Colgan, CEO Rosti
Phone: +44 (0)7796 006633
E-mail: [email protected]
Rosti is a global plastics injection molding company and contract manufacturer headquartered in Malmö, Sweden, 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, both organically and through acquisitions. For further information, please visit www.rosti.com and www.nordstjernan.se.
