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BEWiSynbra acquire EPS business in UK

July 15/2020

MOSCOW (MRC) -- BEWiSynbra Group, a leading producer of expandable polystyrene (EPS) in Europe, today announces that the company has entered into an agreement to acquire a minority stake in a UK based newly formed EPS insulation and packaging company, said the company.

The newly formed company derives from Jablite, manufacturer and supplier of EPS products for insulation and civil engineering applications, and sister company Styropack, producer of EPS packaging. The new business will be jointly owned by parts of the current management and by BEWiSynbra Group. The name of the business will be Jablite Group and will operate as a stand-alone company, in close collaboration with BEWiSynbra Group.

BEWiSynbra is very pleased to have this opportunity to invest in Jablite. The fit between our two businesses is a good one with many positive synergies and similarities of outlook. We look forward to supporting the Jablite team to build a new market-leading business in the UK, says Jonas Siljeskar, CEO of BEWiSynbra Group.

As MRC informed earlier, BEWiSynbra Group, a leading producer of expandable polystyrene (EPS) in Europe, announces that it has entered into an agreement to acquire certain assets deriving from the Danish recycling company EPS Recycle, and thereby establish the recycling company BEWiSynbra Circular Denmark A/S.

As per ICIS-MRC Price Report, spot prices of Russian EPS grew to the range of Rb90,000-96,000/tonne CPT Moscow, including VAT. Spot prices rose in July, despite lower contract prices. Formula prices for the largest buyers fell to the lowest level - Rb81,000-82,000/tonne CPT a converter's warehouse, including VAT, in July. Their recovery is expected in the coming months.  Prices of Chinese plants were still in the range of USD990-1,020/tonne CFR St Petersburg, excluding VAT, this week.

BEWiSynbra Group is one of the largest vertically integrated producers of expandable polystyrene (EPS) in Europe, focusing on sustainable solutions for packaging and components, as well as insulation. Innovation is a key driver for the Groups competitive advantage and sustainability, and BEWiSynbra has an ambitious approach to its recycling initiatives.
Author:Anna Larionova
Tags:PS, EPS, BEWiSynbra Group.
Category:General News
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