Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Coronavirus
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
    • Japan's lacklustre PU production continued in November 2020
      PU prevents freezing damage to railway tunnels
      Huafon estimates 2020 profit will be up to 40% higher than 2019
      Construction starts for Jason Furniture plants in China and Vietnam
    • World automotive registrations recover in H2 2020
      Mlily to increase US market share following anti-dumping duties
      US footwear imports up 25% in November 2020
      Introducing UTECH Southeast Asia 2022
    • EC approves Kingspan's TeraSteel and Wetterbest purchases
      BTC Europe to distribute BASF’s polyurethane ingredients
      World automotive registrations recover in H2 2020
      Bosnian producer to invest in new PU panel factory
    • PPG buys polyurea company Versaflex
      Recticel buys FoamPartner
      Recticel upgrades Q3 outlook despite raw material tightness
      Covestro broadens PU portfolio with DSM purchase
    • Huafon estimates 2020 profit will be up to 40% higher than 2019
      Mlily to increase US market share following anti-dumping duties
      Stellar Q4 performance saves Wanhua 2020 earnings
      2020 proved fruitful for Vitafoam Nigeria
    • World automotive registrations recover in H2 2020
      Car sales down 25% in Western Europe in 2020
      Patchy coronavirus effects hit global car sales in November
      November continues fall in Western Europe's car sales
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
    • China’s PU industry on the path to recovery; plans for technology upgrades
      Chinese cold chains grow bigger
      Flexible foam rises to challenges in the Middle East and Africa
      Life at the cross-roads: what does the GCC offer PU?
    • Europe's flexible foam makers face rising prices as outages hit markets
      Western European car registrations rebound slowed in September
      Western European car registrations regained some ground in August
      Western European Car registrations rebound continued in July
    • Take out the VOC with hybrid release agents
      Batteries give pultrusions power
      Seeing a way through VOC and FOG
      Aromatic polyols for simpler rigid PU formulations
    • Hennecke and Frimo: an automotive partnership
      Pushing ahead: AutoRIM drives KM’s UK growth
      BASF opens it first ‘Creation Center’ in Mumbai with a PU twist
      Persistence pays off for CTM
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
January 03, 2019 12:00 AM

Recticel's Proseat exit strategy unveiled

Jaroslaw Adamowski
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Brussels – Recticel is scaling down its automotive activities, but first it will briefly increase its stake in Proseat.

    The company plans to buy the 49% of  in its Proseat joint venture owned by Canadian partner Woodbridge. This will give it complete ownership. Subsequently, Recticel will sell 75% of the shares in Proseat to Japan’s Sekisui Plastics.

    Both transactions are expected to close in the first quarter. They are subject to customary closing conditions, including regulatory approval, according to the Belgian manufacturer.

    The deal is to 'allow Proseat to build on its leading position as Europe’s largest independent automotive moulded seat foam manufacturer', Recticel said in a statement.

    The agreement contains a call option for Sekisui Plastics to acquire the remaining 25% in Proseat from Recticel from 2019, and a put option for Recticel to sell its remaining 25% in Proseat to Sekisui from 2022, the statement said.

    Proseat is based in Morfelden, Germany, and owns eight plants in the UK, France, Germany, Spain, Poland and the Czech Republic. The factories supply PU moulded seat pads and head- and arm-rests. In 2017, Proseat reported sales of EUR 291m.

    Recticel runs 98 production facilities and offices in 28 countries. The group’s four product segments comprise flexible foams, automotive, bedding and insulation. Meanwhile, local observers suggest the Belgian company will use funds from disposals to develop its isolation division.

    Recommended for You
    Japan's lacklustre PU production continued in November 2020
    Japan's lacklustre PU production continued in November 2020
    EC approves Kingspan's TeraSteel and Wetterbest purchases
    EC approves Kingspan's TeraSteel and Wetterbest purchases
    PU prevents freezing damage to railway tunnels
    PU prevents freezing damage to railway tunnels
    Latest Issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • Coronavirus
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe