5 Jul 2010
Rapid exits restructuring process, holds positive future outlook
Bredaryd, Sweden – July 5, 2010 – Rapid Granulator AB today announced that it has successfully completed the restructuring process which the company began in October 2009. This restructuring process which only affected Rapid’s Swedish operation provided for protection against old debts under Swedish law while allowing it to continue normal business operations.
“This has been a challenging but highly constructive process for Rapid here in Sweden,” said Chris Keller, Managing Director at Rapid. “We voluntarily entered into this with a committed aim of completing the restructuring on time and to emerge from it a stronger and leaner operation, and we have achieved that. As the world’s leading brand in granulator machinery and equipment, we are now even better positioned to serve our customers across the globe and lead the future growth and prosperity of our business.”
“We have seen a strong rebound in sales across many of our markets in 2010, which underpinned with our lower cost base as a result of the restructuring process means we are quietly confident about the market outlook.said Bengt Rimark, Rapid’s Global Marketing Director, “It’s thanks to the efforts of all our team here and the continued support of our customers, suppliers, owners and bank that we are now a fitter and more able operation which will drive continued growth.”
Reader enquiriesRapid Granulator AB
P.O. Box 9
+46 370 86 500
Notes for editors
About Rapid Granulator AB
Rapid Granulator, headquartered in Bredaryd, Sweden, employs 195 people and exports around 95 percent of its production. Supporting its sales operations and customer base the company has six subsidiaries located in Cranberry Township (PA), USA; Shanghai, China; Singapore; Venice, Italy; Lyon, France and Kleinostheim, Germany Further support is provided by a global network of over 90 agents and local partners. More than 70,000 machines installed across five continents, for the granulation of plastic scrap, the recycling of post-consumer and post-industrial waste, the reduction of organic waste for the production of bio-gas, as well as the shredding of old bank notes, confirm the company as a world-class leader in its field.
For more detailed information, visit Rapid at: www.rapidgranulator.com.