The PGS Group (Palettes Gestion Services), leader of the wood pallet, announced now to hold 100% of the share capital of the Alsatian company ORTH. Little by little, the Group PGS refined its taken for participation. A few days after having completed the acquisition of the Belgian DE BACKER, PGS announced now to hold 100% of the share capital of the Alsatian company ORTH and its pallets manufactures JURAPAL.
A financial transaction that comes finalizes the 51% that the Group had acquired in September 2012 and consolidates its presence in eastern France. The PGS Group has therefore increased its taken control to 100% in the societies in which it did not hold the entire share capital. Jean-Louis LOUVEL, Founding President, said: "The increase of our holdings in order to control the entire share capital in the companies of BACKER and ORTH was a vital step to implement a comprehensive development plan and make new investments in several companies in the sector, whether in France or abroad”. Indeed, PGS who has displayed its strong development ambitions, particularly internationally, indicates that several acquisitions will be completed by the end of this year. "The governance of the group has to carry out on several fronts in order to achieve a series of consecutive operations," said Jean-Louis LOUVEL.
About the PGS Group
Created in 1993, PGS Group (Palettes Gestion Services) is the leader of new and reconditioned wood pallet, producing molded and timber pallet. Its comprehensive offering and its development abroad makes it the major logistics partner of the packaging industry. In 2013, PGS has achieved a consolidated turnover of 166.3 million and now has nearly 1,000 employees. PGS has 6 sawmills, 13 sites of pallets manufacture and 28 sites of repackaging, enabling it to ensure by its own an annual production of 280,000 m3 of sawnwood, 18.6 million new pallets and 14 million reconditioned pallets. PGS also has offices in Belgium, Spain, Morocco and the United Arab Emirates.