Plastoform Group

From a workshop to owning six companies

This successful family story began with Franc Sr., who in 1995 decided to purchase the business premises of the failed IMV Adria Caravan.  The factory had stood there since 1976, but the existing company went into  liquidation. He employed 50 existing workers and continued to work in the same industry, but for foreign markets. “Our skills were limited to a single product segment. Nevertheless, in the ashes of the failed company, I was looking for a solution for myself and colleagues, who were also my fellow-villagers,” says Franc Sr., describing the beginnings of his entrepreneurial career. In the first two years their business depended largely on exports to the foreign market; however, slowly but steadily, their story began to evolve.

After only a year, Adria recovered and its market expanded. Franc  gradually began to include his children in the business and today, all the subsidiaries are run by family members. Their latest acquisition, Akripol from Trebnje (acquired in the summer of 2016) is engaged in the  production and processing of polymers and cast acrylic glass sheets, and is managed by Franc Sr.

Too many businesses or too few sons?

Due to the sheer size of the business, Franc Sr. decided to establish individual business units engaged in the production of two of the core program ranges - one specializing in processing thermo-formable plastic materials and the other in Plexiglas windows. The latter provided foundations for Plastoform Blanca. Miha, who at the time worked in sales, was involved in the Plexiglas business. Initially Franc Sr. appointed an external director of the unit, in 2003, however, five years after its  establishment, he decided to appoint his eldest son Miha, as Director of Blanca. In the meantime, Plastoform Šmarjeta continued its growth and in 2010, when the Grupa Plastoform was established, Franc Jr. was appointed its Director. The company is engaged in the manufacture of plastic components.

Even before that, in 2001, they bought two small companies in Pazin, which today operate under the names of Plastoform Istra and Istraplastika. Initially, they acquired a majority stake through a public tender and subsequently purchased the remaining share from minority shareholders, thus becoming 100% owners of the companies.

The youngest son Gašper was given his chance with the acquisition of Papiroti in November 2012. “At that time I had just finished my  secondary school, enrolled in a part-time study program at a Faculty and I immediately joined the company. At the beginning I was working as head of production and meanwhile slowly acquiring management experience with father’s help. I was appointed Company Director on 1 January 2016 at the age of only 22,” explains Gašper of his career development so far.The core production activities of the company are printed paper bags and wrapping papers.

In September 2010, all the companies merged into a single holding and the Plastoform Group was established. At present, Franc Sr. is the 100% owner of the entire business, but a transfer of ownership is on the cards in the not too distant future. This is how Franc contemplates the future and how the Group and the children may grow and develop: “While the next generation is well-prepared for new challenges and opportunities, there may be risks awaiting just around the corner. This is something I am very well aware of and thus, potential risks and solutions are common topics of our meetings. To this end, we have a clear set of performance indicators and our expectations are clear: if the children fail to excel as directors of individual companies, they should take up a different activity. I see  internal control of the companies and self-criticism as being of the utmost importance in the business.”

Joining the family business as a challenge

The brothers emphasize that becoming part of the Group was a natural process and nobody forced them to join the family business. Challenges themselves were sufficiently attractive and none of them ever imagined not being a part of the family success story. “However, I wish to emphasize that as a second generation, we did not take our jobs for granted. Quite the opposite. The philosophy, passion and motivation have grown with us from an early age,” continues Miha. Success only comes through hard work and every one of the children first worked in a factory and was only subsequently promoted.

The Gregorčič surname - a synonym for the Group

For all of them, family business is the way of life they have grown up with and are proud of it. In the international market, they use the fact that theirs is a family business to their great advantage. “Our brand is associated with the surname Gregorčič. Wherever we show up as owners, it is easier to talk business and customers have more trust. While I do trust and have confidence in our sales team, it makes a difference if you discuss business as the owner,” explains Gašper of his experience.

While each of the Gregorčič brothers has his own view of the management  of their individual company, they at all times assist and encourage each other. All of them cherish sincerity, because as Miha says, without it the group is not able to function as a whole: “Even if there is a disagreement at the general meeting, in times of crisis it is very important that you have someone at your side you can rely on.”

A socially responsible company

Although the entire world is their playing field, they have not forgotten their local environment. They support all types of associations, including voluntary fire fighter and sporting events, and they even built a sports ground – Plastoform park.