Kremsmunster, Austria – Greiner, the privately held conglomerate, said sales at its Noveon, flexible foam business were up 20% in 2020. The division had sales of EUR479m.
Greiner benefited from Eurofoam purchase in 2020
Greiner complted its purchase of Recticel's share of its Eurofoam joint venture and put it into Noveon in June 2020, just after its financial year started. Had it not done this, foam sales would have fallen it said.
Looking across the company as a whole, Greiner, said sales were up 15% to EUR1.93bn in 2020. This compares with EUR1.65bn in 2019.
CEO Axel Kuhner said: 'The focus upon sustainable innovations and a diversified product portfolio has made us crisis-resistant. Like virtually no other enterprise, we were able to use the situation in 2020 as an opportunity.'