Tomra

#2619

Rank

$4.67B

MarketCap NO

NO Norway

Country

Summary
Tomra Systems ASA provides sensor-based solutions for optimal resource productivity worldwide. It operates through three divisions: Collection, Recycling Mining, and Food. The Collection division engages in the development, production, sale, and service of reverse vending machines and related data management systems. This segment is also involved in picking up, transporting, and processing empty beverage containers on behalf of beverage producers/fillers. The Recycling Mining division offers sorting systems for waste and metal material streams; and ore sorting systems for the mining industry. The Food Solutions division provides post-harvest grading and sorting solutions for fresh produce; and sorting and processing technology for the processed food industries. The company was founded in 1972 and is headquartered in Asker, Norway.

History

1970s

TOMRA was founded by the two brothers Tore Planke and Petter Planke in 1972. It started out with the design, manufacturing and sale of reverse vending machines for automated collection of used beverage containers. In 1974, the Swedish entity Systembolaget ordered 100 RVMs.

1980s-2000s

TOMRA was listed in Oslo Børs on 18 January 1985 and tried to secure a position in the American market to no avail. It was then entered the market in 1990s. By 1999, sales in the US accounted for more than half of total revenues. In 2006, TOMRA delivered more than 8000 new reverse vending systems to Germany.TOMRA's sensor-based sorting technology business was first established in 2004 with the acquisition of TiTech Visionsort AS, a provider of optical recognition and sorting technology , from Ferd AS for 219 million NOK.With the acquisition of Orwak in 2005, Tomra added compaction and baling products. In December 2014, TOMRA sold the Orwak operations in Norway, Sweden, Poland and Japan under the name TOMRA Compaction to San Sac Nordic AB of Sweden.On 31 August 2005, TOMRA Latasa Reciclagem S.A., offering aluminium can collection and recycling assets services in Brazil, Chile, and Argentina, was acquired by Aleris International, Inc.On 1 July 2006, TOMRA's subsidiary Titech Visionsort AS acquired Germany-based CommoDaS GmbH, a provider of recognition and sorting technology for metals, plastics, glass, minerals and gems, for approximately 100 million NOK.On 1 July 2008 TOMRA announced it bought Australian peer Ultrasort Group, a provider of advanced recognition and sorting technology to the mining industry, for 160 million NOK .

2010-2019

Via several acquisitions, TOMRA had secured 75% global market share in RVMs, 60% material recovery and 40%-65% in sorting.On 12 December 2010, TOMRA's subsidiary TiTech acquired Dublin-based food technology company Odenberg, a designer of equipment used for producing 65 per cent of all French fries worldwide, for up to 57.5 million Euro from ACT Venture Capital in Dublin and members of the Van den Bergh family in Belgium; Odenberg's chilling/freezing unit was later considered a non-core business and sold in 2013 as to a newly formed company, Power Food Technology Ltd., of Ireland.On 31 December 2011, TOMRA sold the assets of Tomra Pacific, Inc., a recycler of used beverage containers in California, to rePlanet, LLC for approximately $25 million.In June 2012, TOMRA purchased Belgium-based food sorting specialist Best Kwadraat for 138 million Euro.In October 2016 TOMRA signed an agreement to acquire Compac Holding Ltd., a New Zealand-based provider of packing house automation systems that sort fresh produce based on weight, size, shape, color, surface blemishes, and internal quality, for $70 million plus up to $230 million in earn-outs available to Compac founders; the transaction was completed in March 2017.On 26 February 2018, TOMRA signed an agreement to acquire BBC Technologies. The deal added BBC Technologies' precision grading systems and punnet and clamshell filling technology for blueberries and other small fruits.


Mission
Tomra’s mission is to create value by developing intelligent technology solutions that simplify and improve the lives of consumers, business owners, and society at large

Vision
Tomra’s vision is to help build a future in which all resources are used smarter and re-used better

Key Team

Mr. Volker Rehrmann (Exec. VP & Head of Recycling)

Mr. Michel Picandet (Exec. VP & Head of TOMRA Food)

Ms. Eva Sagemo (Chief Financial Officer)

Ms. Georgiana Radulescu (Director of Investor Relations)

Mr. Fabrizio Radice (Global Sales & Marketing Director)

Ms. Bing Zhao (VP & Head of Collection Solutions Asia)

Mithu Mohren (Sr. VP of Marketing & Communications, Circular Economy)


Recognition and Awards
Tomra has won numerous awards, including Forbes “America’s Best Employer”, the Thinkers 50 Breakthrough Idea award, and the International Business Forum Verus award.

References
Tomra
Leadership team

Ms. Tove Andersen (Pres & CEO)

Mr. Espen Gundersen (Exec. Officer)

Mr. Harald Henriksen (Exec. VP & Head of Bus. Area Collection Solutions)

Products/ Services
Machinery Manufacturing, Manufacturing, Recycling
Number of Employees
1,000 - 20,000
Headquarters
Asker, Akershus, Norway
Established
1972
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
TOM.OL
Social Media
Fri Feb 23 2024
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