UK-based custom injection molder Advanced Plastics Group announced this week that it has transitioned to an Employee Ownership Trust (EOT).

Established by three engineers in 1992 as Advanced Plastics & Composites Ltd. and now operating three sites across the UK in Hull, Manchester, and Fareham, the company produces technical injection molded products for blue chip clients in a range of markets. By becoming an employee-owned business, Advanced Plastics Group said it will cement its legacy, protect its values, and ensure its commitment to clients and industry partners.

Alignment with core values

The transition to an EOT aligns with the founders' core values of partnership, integrity, respect, and commitment, fostering a culture of shared responsibility and long-term stability, the company said in the news release. The move recognizes the invaluable contribution of its 310 employees to the company’s success, added co-founders and joint CEOs Rob Anderson and Chris Pearson.

“Becoming 100% owned by an EOT allows us to preserve our independence while ensuring our dedicated colleagues have a direct stake in the future success of the business,” commented Anderson. “Our customers will continue to receive the same high standard of service, with the added assurance that our team is fully invested in delivering excellence. We have a strong leadership team at Advanced Plastics Group, fully capable of driving the company’s growth strategy and guiding our colleagues through this transition,” he said.

The company said the transition will empower Advanced Plastics Group’s employees, enabling them to contribute their ideas into decision-making and also benefit from the company’s long-term growth.

Advanced Plastics offers a full range of design and automated manufacturing services, including molding, assembly and testing, and printing. It serves the automotive, HVAC, filtration, medical, communications, and lighting markets, among other sectors.