In continuation of the recent acquisitions made by Promens. The Board of Directors of Promens has approved a new organisational structure for the company which will be effective as of July 1st 2007. The main objectives of the organisational changes are to integrate all the underlying businesses, increase efficiency and establish a strong base for further growth and development of the company.

The main change in the organisational structure concerns the Polimoon Group, which since being acquired in December 2006 has been run as an independent company within Promens, but will now be operated as an integrated part of the Promens Group.

The Board of Directors of Promens and Arne Vraalsen, President and CEO of Polimoon, have reached an agreement according to which he will leave his current position as a CEO of Polimoon as of June 30th, although he will continue to work for Promens as a consultant until the end of 2007.

According to the new organisational structure Promens will be divided into three business units, being packaging, rotational moulding and components. Special emphasis will be put on procurement and productivity & quality which will be run as support units within the group. Promens’ head office will continue to be in Iceland, but a corporate service centre will be established in Oslo, Norway, responsible for financial management, IT, procurement, and productivity and quality.

The new executive team of Promens’ consists of the following:

  • Ragnhildur Geirsdóttir, who became the President and CEO of Promens in January 2006, will continue to lead the group.
  • Adrian Platt who has been the CFO of Polimoon since 2000 has been appointed the Chief Financial Officer of Promens.
  • Jón SigurĠsson who has been the CFO at Promens since its establishment in 2005, has been appointed Senior Vice President of Procurement.
  • Thor Audun Saga has been appointed Senior Vice President of Productivity & Quality. He has held a similar position in Polimoon since 2006.
  • Aart Fortanier has been appointed Senior Vice President of Rotational Moulding. He has been heading Promens’ rotational moulding in Europe since Promens acquired Bonar Plastics in 2005.
  • Erik Feijen has been appointed Senior Vice President of Components. He has held the same position in Polimoon since 2002.
  • Jeroen Hooft has been appointed Senior Vice President Packaging. He has managed the packaging operation for Polimoon in continental Europe since 2002.

“Promens has during the last two years been one of the fastest, if not the fastest growing plastics conversion company in the world, and we plan to further grow the company. With these organisational changes in place, we have the structure and the management team to lead the company into the next era and further grow and develop the company.” says Ragnhildur Geirsdóttir, President and CEO of Promens.

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