Modiform has decided to gradually wind down the activities of its subsidiary Thomsen (Wormhout, Northern France). The management and shareholders have taken this decision in light of Thomsen's financial results and Modiform's strategic direction.
Thomsen was founded in 1995 and has been part of Modiform since 2018. The company is known for producing high-quality and innovative injection-moulded pots and has introduced various market standards over the past decades. However, the market for injection-moulded pots has structurally deteriorated in recent years, partly due to significantly increased costs and declining demand. Despite several initiatives to improve margins and sales volumes, Modiform's management concluded that continuing production at this location is no longer economically viable.
© Modiform Modiform CEO Wilma Bloot
The injection-moulding activities in Wormhout will be phased out by mid-2026. Modiform will make every effort to deliver all orders already placed and still to be received for Thomsen products until the end of this year. For Thomsen's 34 employees in France, a carefully managed transition process has been put in place, including a Social Plan and support in finding new employment.
Future-proofing
According to CEO Wilma Bloot, the decision is a necessary step. "Although this decision was not easy, it is an important step in our strategy to make Modiform more future-proof. We are focusing on a solid foundation for growth: service and reliability combined with a strong, sustainable innovation agenda. With the recently announced refinancing and the arrival of a new shareholder, I am confident that Modiform is well positioned to enter its next phase of growth."
For more information:
Modiform
[email protected]
www.modiform.nl
