Expandable polystyrene (EPS) producer BEWI has finalised its acquisition of EPS and extruded polystyrene (XPS) producer Jackon on 19 October 2022, said Buildersmerchantsnews.
Jackon will be consolidated into BEWI’s accounts from 1 November 2022, added the source. "We have been looking forward to this day for a long time and we cannot wait to get started with the integration of our two companies. Finally, we can welcome the Jackon employees to our organisation. We see a great potential in combining our two companies, creating strong synergies across our value chain," said CEO of BEWI, Christian Bekken.
BEWI originally announced the plans in October 2021 to acquire all shares in Jackon, and following this, offers were accepted by all shareholders in H1 2022. The acquisition was previously expected to conclude by the end of Q3 2022, following the completion of divestments.
EPS is a rigid form of polystyrene (PS) used in insulation foams for the construction industry as well as for packaging.
We remind, BEWI ASA has acquired 51% of Volker Gruppe, is a trader of compacted and recycled material. It operates two facilities in the UK and Scotland, where they compact material, and leases compactors to customers.
Volker Gruppe is one of the largest suppliers of EPS waste to BEWI Circular, with an annual collection of approximately 6,000 tonnes of EPS, in addition to several other types of waste streams, including LDPE, HDPE, WEEE, OCC and Paper. The company trades and processes around 25,000 tonnes of plastics and paper per year globally.
BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy. BEWI ASA is listed at the Oslo Bors under ticker BEWI.
mrchub.com