Press release

Recticel divests from its Proseat Joint Venture in two steps

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

 

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.

Download Press Release (PDF)