Plastics Capital PLC (AIM; PLA), a fast-growing acquisitive plastics products manufacturer focused on proprietary products for niche markets, today announces the appointments of a new Chairman and Managing Director at one of its subsidiaries, BNL (UK) Limited ('BNL'), the UK-based plastic bearing designer and manufacturer.
Dr. Neil Partlett has taken up the role of Divisional Director for Plastics Capital PLC and has become Chairman of BNL and John Nichols has moved from his former position as COO of BNL to take over from Dr. Partlett as Managing Director. These changes took effect from 1st July 2008.
BNL was bought by Plastics Capital PLC at the end of 2005 and the group became an AIM quoted company in December 2007. Plastics Capital is developing a divisional organisation structure in which Dr Partlett will take on a Divisional Director role, with BNL, forming the core of his Divisional responsibilities. Dr. Partlett will now be responsible for expanding the BNL through strategic acquisition and geographic expansion, whilst John Nichols' objective will be to continue the exceptional growth BNL has experienced over the last few years. The role of COO will be amalgamated into his responsibilities as Managing Director.
Dr. Neil Partlett said:
'In my role as Chairman, this will allow me to devote more time to the strategic development of BNL, including acquisitions, and to further our geographic expansion'.
Fasial Rahmatallah, Executive Chairman added:
'This is an exciting phase in the development of BNL and the appointment of these Directors enhances the excellent team already in place. By developing a divisional organisation structure, BNL is positioned to manage further growth and will continue delivering high quality service to all its customers.'