Rapid takes next step in restructuring

Rapid Granulator is proceeding as planned with its restructuring. The company announced on April 7 the winding up of its Moditec subsidiary based in Lyon. This is the latest move in a series of cost reduction steps and organizational changes that have already been implemented by Rapid. France is the third largest polymer consumer in Europe and is an important market for the Rapid Group. Rapid saw strong development in its activities in the French market in the last quarter of 2009 and beginning of 2010. On January 1, 2010 Rapid increased its stake in its French sales and service company Albro Technologies from 20% to 100% in order to strengthen the company's distribution capability and access for French customers to its extensive product portfolio. Albro sells a wide range of auxiliary products to the French plastic producing market including Rapid granulators, shredders and screen-less machines.