Funding supports Arc growth plans
Leading French domestic glassware producer, Arc is successfully continuing its transformation, launched after recapitalisation in 2015. The company has returned to commercial success with growth in sales volume and a renewed focus on innovation. Following this success, last year the company moved on to the second phase of its transformation.
In January, Arc France launched the Synergie 2020 plan, aimed at strengthening its operational performance. To implement this plan, the company had to find an agreement with French unions and mobilise its financial partners. “With agreement reached this March, Arc is delighted to be able to count on financing of €120 million, which will enable the group to accelerate its transformation by modernising its industrial footprint, reducing operational costs and ensuring the continuation of its sales dynamic” said Nicholas Hodler, CEO.
The company reached this agreement thanks to financial partners who have supported the group since recapitalisation in 2015, mainly because of the decision of its main shareholder to provide additional funds and to transform most of the loans granted since 2015 into quasi-equity, showing confidence in the group’s future.
The Synergie 2020 plan includes 108 projects covering all Arc France business areas. This will enable the group's historic site to improve operational efficiency, double profitability in France by the end of 2020 and regain financial autonomy.