IPL Plastics will start a new process designed to boost its margins.
The company’s large format packing and environmental solutions division will be targeted in particular, but all divisions will be examined.
Job losses are not expected, in the initial phase of the programme at least.
Chief executive Alan Walsh said the company was “very confident” the programme would boost profitability.
IPL’s adjusted Ebitda (earnings before interest, tax, depreciation and amortisation) was down 20pc year-on-year in the third quarter.
That’s despite a 7.5pc revenue boost. It has been hit by rising input costs.
Mr Walsh said the company would look to implement price increases for its products in order to claw back the increased input prices.
He said the transformation programme does not preclude the company from making further acquisitions.
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