Kremsmunster, Austria – Neveon, the foam division of Austrian conglomerate Greiner, had sales of EUR753m in 2021, up 53.3%. The increase was, in part, the result of the consolidation of Eurofoam into the business.
Greiner’s Neveon grew sales 53% in 2021
CFO Hannes Moser said: ‘Bundling the foam units into Neveon strengthens synergies and increases the visibility of the foam division significantly.’
Greiner’s strategy, announed on 17 May 2021was to purchase the flexible foam business of Recticel. Greiner gave itself a springboard for this by buying a large stake in the company from a shareholder. Recticel’s shareholders, however, decided to sell that part of the business to Carpenter of the US.
Following that setback, Greiner has sold most of its holding in Recticel to Baltisse, a financial company. Greiner and Baltisse are both privately held, and no financial details of these transactions are available.