Advanced Plastics Group announces its transition to an Employee Ownership Trust (EOT). The injection moulded product manufacturer’s strategic move hopes to ensure its long-term independence, while also recognising the contributions of its employees.
Advanced Plastics Group
Advanced Plastics Group transitions to an EOT
Established in 1992 as Advanced Plastics & Composites Ltd, the company has built a strong reputation for innovation and excellence. Becoming an employee-owned business will allow Advanced Plastics Group to ensure its legacy, protect its values, and strengthen its commitment to clients and industry partners.
Employee ownership can drive engagement, productivity, and innovation, while also helping to create a more resilient and customer-focused business. Advanced Plastics Group’s employees will feel empowered by the move, enabling them to contribute their ideas to decision-making processes.
“This is a proud moment in our company’s history. Becoming 100% owned by an EOT allows us to preserve our independence while ensuring our dedicated colleagues have a direct stake in the future success of the business,” said Rob Anderson, Joint CEO of Advanced Plastics Group. “Our customers will continue to receive the same high standard of service, with the added assurance that our team is fully invested in delivering excellence. We have a strong leadership team at Advanced Plastics Group, fully capable of driving the company’s growth strategy and guiding our colleagues through this transition. This is an incredibly exciting time for us as Directors and for our colleagues, as we embark on a transformative journey that will secure our future.”
Chris Pearson, Joint CEO of Advanced Plastics Group, added, “Rob and I have huge pride in Advanced Plastics and could not think of a more appropriate way to secure our future ownership succession than with the EOT. Our customers, partners, suppliers and colleagues can now be assured of the future of the business, under the leadership of our current team of Executive Directors.”
“Congratulations to Advanced Plastics Group on making the move to employee ownership and joining a rapidly expanding sector that’s statistically shown to have positive social, community, and environmental impacts,” concluded Employee Ownership Association (EOA) Chief Executive, James de le Vingne. “As a manufacturer, which as an industry makes up 11% of the UK’s employee-owned sector, Advanced Plastics Group’s EO succession will see it anchor the business, jobs and investment in its region for the longer term, playing a vital role in a more sustainable future economy.”