Incorporated in 1989, Coral Products PLC initially manufactured and supplied VHS video cassette cases to the media industry. The product range was later extended to include a range of ‘home brand’ plastic homewares made for supermarket chains. In April 1995, after its initial success, Coral Products was listed on the London Stock Exchange. With funding from the float, the company went on to invest in facilities to manufacture CD cases and then DVD cases.
By 2009 demand for media packaging had declined due to the shift away from packaged media to downloaded media. Fluctuating levels of profitability arising from the decrease in sales drove the company to diversify its product range. Later in 2009, the company released a range of recycled waste collection products for the domestic market, including kerbside recycling boxes and food waste caddies. Two years later, Coral Products began a series of acquisitions, namely:
- 2011 – Interpack Limited; food packaging products
- 2014 – Tatra Plastics Manufacturing Limited; PVC and plastic injection moulding and extrusion
- 2015 – Neiman Packaging Limited; acquired injection blow moulding and extrusion blow moulding plant and machinery
- 2016 – Rotolac Plastics Limited; thermoplastic extrusion and moulding solutions
- 2016 – Global One-Pak Holdings Limited; lotion pumps and trigger sprayer products
- 2017 – ICM Ltd; acquired injection moulding machines with robot handling and other production assets
Arial view of Coral Products PLC – North Florida Road, Haydock Industrial Estate, Haydock, Merseyside, WA11 9TP, UK
Map showing location of Coral Products PLC – North Florida Road, Haydock Industrial Estate, Haydock, Merseyside, WA11 9TP, UK
Coral Products now employs 170 people within its operations across the UK with facilities in Merseyside, Wythenshawe, and Greater Manchester.
Machines acquired from ICM Ltd in 2017
Coral Products brochures:
So what have they wheelie bin doing?
The business started life as a manufacturer of VHS cassette tape cases. When did you last buy one? Exactly! They transitioned well from VHS media packaging to CD’s and then DVD’s. They could see the market changing so they diversified into the emerging waste recycling products market. Wheelie clever stuff because it was a major product shift but one that was directly in line with their expertise, manufacturing plastic moulded products.
With the company’s improved financial position, especially during 2015 and 2016 as shown above, it has been able to take advantage of opportunities to acquire the businesses and assets of financially distressed kindred manufacturers.
Now the company manufactures and supplies a broad range of plastic products ranging from waste recycling bins and caddies to bakery trays, food containers, lotion pumps, trigger sprayers, and automotive components.
A diversified product portfolio puts the company in a stronger position to adapt to market changes and fluctuations. Recent high technology equipment acquisitions will enable the company to quickly and efficiently manufacture its products, allowing it to compete with other domestic and international suppliers.
With their recent business success, Coral Products PLC should now have enough money to redesign their logo.
You can read more about Coral Products PLC in my assignment submission.