Plastics & Rubber Weekly
Brussels -- Recticel Group has sold its French slat bed-base offshoot LeBed to German group Mutares based in Munich.
Brussels-based Recticel, which manufactures a range of plastic and wooden bed bases, slats and foam mattresses, sold the recently loss-making business to Mutares's French subsidiary Alsace Meubles. The sale was concluded on 1 July.
LeBed of Masevaux, employing 67, achieved a sales turnover in 2009 of Euro 10 300 million ($13 300 million). The component firm has mainly been a captive supplier to leading French bed manufacturer Cofel, a 50/50 joint venture between Recticel and Spanish firm Pikolin. Recticel disposed of its stake to Pikolin a year ago.
The Belgian group said it was selling LeBed to Mutares to ensure the continuity of the business and to avoid the plant's closure. The disposal will allow Recticel to concentrate on its core businesses, flexible polyurethane foams, bedding and insulation product as well as foam components for the automotive sector.
Despite these divestments, Recticel has made it clear that it still means to retain its remaining operations in the European bedding sector and intends to expand the business still further.
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