Press release

Recticel provides an update on the non-conform BASF TDI issue

Occasional information, Brussels, 19 October 2017 – 09:30 CET

On 10 October 2017, Recticel announced that on 5 October 2017 it received a notification from BASF stating that between 25 August 2017 and 29 September 2017, polluted toluene diisocyanate (“TDI”) – more particularly Lupranate T80 A - has been supplied by the BASF plant in Ludwigshafen (Germany) to five Recticel sites, producing flexible polyurethane foams for the industry. BASF is one of the major suppliers of TDI and other BASF customers have been confronted with the same issue and have received similar notifications.

Recticel’s primary concern is the safety of its employees, of the employees of its customers, and of end-consumers. Therefore, Recticel has immediately stopped production and deliveries at the affected sites, and has taken all required safety measures.

Recticel now confirms that all affected sites have restarted production with conform TDI. All affected foam products still in the Recticel sites have been quarantined, and in close cooperation with its customers, Recticel has completed the traceability exercise to identify all affected foam deliveries.

Yesterday, BASF has released a further statement, providing (i) clarity with regard to the safety concern and risk associated with the non-conform BASF TDI, stating no health risk, and (ii) their offer - as a precautionary measure - to collect all foam products produced with non-conform BASF TDI for the bedding and upholstery industries. 

Recticel is informing its affected customers with more detailed information in this regard, and remains committed to limit the impact for its customers to the maximum extent possible.

 

 

Financial calendar

Third quarter 2017 trading update 31.10.2017 (at 07:00 AM CET)
Annual Results 2017 23.02.2018 (at 07:00 AM CET)
First quarter 2018 trading update 26.04.2018 (at 07:00 AM CET)
Annual General Meeting 29.05.2018 (at 10.00 u CET)
First half-year 2018 results 29.08.2018 (at 07:00 AM CET)
Third quarter 2018 trading update 30.10.2018 (at 07:00 AM CET)

 

For additional information

RECTICEL - Olympiadenlaan 2, B-1140 Brussels (Evere)

Press: 
Mr Olivier Chapelle
Tel: +32 2 775 18 01
chapelle.olivier@recticel.com

Investor relations: 
Mr Michel De Smedt
Mobile: +32 479 91 11 38
desmedt.michel@recticel.com

 

Recticel in a nutshell

Recticel is a Belgian Group with a strong European dimension, but it also operates in the rest of the world. Recticel employs 7,925 people in 98 establishments in 28 countries.

Recticel contributes to daily comfort with foam filling for seats, mattresses and slat bases of top brands, insulation material, interior comfort for cars and an extensive range of other industrial and domestic applications.

Recticel is the Group behind well-known bedding brands (Beka®, Lattoflex®, Literie Bultex®, Schlaraffia®, Sembella®, Swissflex®, Superba®, Ubica®, etc.) and GELTEX® inside. Within the Insulation sub-segment high-quality thermal insulation products are marketed under the well-known brands Eurowall®, Powerroof®, Powerdeck®, Powerwall® and Xentro®. Technological progress and innovation have led to breakthrough at the biggest names in the Automotive industry thanks to Colo-Fast®, Colo-Sense® and Colo-Sense Lite®.

In 2016 Recticel achieved combined sales of EUR 1.35 billion (IFRS 11 consolidated sales: EUR 1.05 billion).

Recticel (Euronext: REC – Reuters: RECTt.BR – Bloomberg: REC:BB) is listed on Euronext in Brussels.