Brief: Recticel To Sell Its Engineered Foams Business

Recticel SA

11/10/2021 13:05

Oct 11 (Reuters) - Recticel NV  RECT.BR :
    * RECTICEL ANNOUNCES STRATEGY UPDATE AND INTENDED SALE OF
ITS
ENGINEERED FOAMS BUSINESS
    * TO FOCUS EXCLUSIVELY ON ITS INSULATION BUSINESS SEGMENT,
PRESENTING EXCELLENT GROWTH AND PROFITABILITY PROSPECTS GOING
FORWAR
    * IN CONSEQUENCE, RECTICEL N.V. TODAY ANNOUNCES IT HAS
RECEIVED A
BINDING OFFER FROM CARPENTER CO. FOR ITS ENGINEERED FOAMS
BUSINESS
    * CONSEQUENT SALE OF RECTICEL'S ENGINEERED FOAMS BUSINESS
SEGMENT,
DEMONSTRATING FAR SUPERIOR VALUE CREATION VERSUS UNSOLICITED
OFFER BY GREINER
    * CLOSING OF TRANSACTION IS EXPECTED TO TAKE PLACE Q2 OF
2022
    * BINDING OFFER RECEIVED FROM US-BASED CARPENTER CO., ONE OF
WORLD'S LARGEST PRODUCER OF FOAM AND SPECIALTY PRODUCTS

Source text for Eikon:  ID:nNDL4qpCfc 
Further company coverage:  RECT.BR 

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