International Plywood (Importers) Ltd (IP) has acquired Panel Supplies (UK) plc in a move which will strengthen its presence in London and the south-east.
The Gloucester-based company said it had worked closely with Panel Supplies for many years and the purchase would further strengthen the bond and enable the group to continue its strategic growth.
The acquisition has been renamed Panel Supplies Ltd and will continue to operate as normal from Basildon, with all staff remaining.
IP has a distribution network for panel products using Portbury, Newport and Blyth Ports, but managing director Ian Attwood said ownership of Panel Supplies would enhance IP’s involvement with Tilbury.
“Panel Supplies has been importing to Tilbury Docks by container and now with our breakbulk expertise volume sales are set to increase.”
Mr Attwood said the addition of Panel Supplies’ Peter Lapage to the IP board and Mr Lapage’s appointment as managing director of the new company would bring considerable buying experience to the group.
“The IP group is now in a revitalised position of strength and well-equipped in facing the current procurement and logistical challenges of our industry. We also look forward to developing new products and maintaining our environmental credentials with our strategic partners, suppliers and customers.”
Panel Supplies directors and staff have thanked suppliers and customers for their past support and expressed confidence that relationships will strengthen in the “new era”.
