Press release

Recticel divests from its Proseat Joint Venture in two steps

Regulated information, Brussels, 19/12/2018 — 06:45 CET, 19.12.2018


Recticel announces that it has entered into final agreements whereby it will first acquire the remaining 49% in its Proseat joint venture from its Canadian partner Woodbridge Foam Corporation, and subsequently sell 75% in Proseat to Japanese public company Sekisui Plastics Co., Ltd. (hereafter “Sekisui”).

The new joint venture between Sekisui (75%) and Recticel (25%) will allow Proseat to build on its leading position as Europe’s largest independent automotive moulded seat foam manufacturer and to further expand its customer base and its product portfolio.

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