Following Tetra Laval’s friendly takeover bid in April 2001, Sidel didn’t have an active shareholder. This resulted in a drop in sales in 2001 and historic losses of 47.5 million euros.
The arrival of Gérard Stricher who took over at the helm in November 2001, helped put Sidel on the road to recovery according to the company. The efforts, including restructuring around core business activities, establishment of a new management team, programs to energize the sales force, efforts to boost employee morale, and the definition of a new vision and strategy, put Sidel back on the path to growth and profits in 2002.
The confirmation of Sidel as a full-fledged member of Tetra Laval group gives the company a chance to pursue and speed up its recovery.
