BEWI – Closing of acquisition of Lithuanian insulation company BalPol31-08-2022
BEWI – Closing of acquisition of Lithuanian insulation company BalPol
Reference is made to the stock exchange notice of 1 July 2022 regarding BEWI entering an agreement to acquire 100 per cent of the Lithuanian insulation company UAB Baltijos Polistirenas (BalPol). BEWI today announces that the transaction has been finalised.
BalPol has approximately 150 employees and currently operates two downstream facilities, whereas one facility produces PIR and MW sandwich panels and PIR insulation boards, while the other produces insulation solutions from EPS for construction and packaging products from EPS and EPE. For further details, see the stock exchange notice of 1 July 2022.
The total consideration for the shares in BalPol amounts to approximately EUR 28.8 million, whereof 50 per cent has been paid in cash and 50 per cent has been settled by the issuance of 2,238,188 consideration shares in BEWI at a share price of NOK 64.64 per share. The price per share is calculated based on a three (3) months weighted average price from 23 August 2022. The share capital increase was resolved by the board of directors by use of the authorisation granted by the annual general meeting on 2 June 2022.
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959
About BEWI ASA
BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
This information is subject to the disclose requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.