Master Plastics, which was unbundled from JSE-listed Astrapak, has listed on the JSE’s AltX board in the Containers and Packaging sector.
Master Plastics represents a group of manufacturing operations that produce flexible packaging and knitted synthetic fabrics for the agricultural, retail and food sectors.
Master Plastics CEO Manley Diedloff says the company will look to establish and enhance its reputation as an organisation that operates in niche markets and generates above average returns to the benefit of its stakeholders.
“We will use our culture of innovation and our advanced asset base to explore growth opportunities within our existing customer base and market segments and look for acquisition opportunities to give effect to both product and market diversification over time. This is an exciting time for Master Plastics and its people and we all look forward to delivering on and exceeding market expectations.”
Master Plastics, which intends to migrate to the JSE main board as soon as possible, is the sixth company to list on the JSE’s Containers and Packaging sector.