BEWiSynbra Group publishes its Annual Report for 2019, and comments on Covid-1917-04-2020
BEWiSynbra Group publishes its Annual Report for 2019, and comments on Covid-19
BEWiSynbra Group, leading producer of expandable polystyrene (EPS) in Europe, today publishes its annual report for 2019, and comments on the ongoing Covid-19 situation.
In early 2020, the world became aware of Covid-19 and gradually began to grasp the consequences of its progress. Even though Covid-19 and the measures taken around the world have affected BEWiSynbra Group, the company has managed to have operations at full speed, and sales during the first quarter have only been affected to a limited extent. BEWiSynbra is well diversified both geographically and industrially in terms of end customers where certain segments are believed to be more affected, such as the automotive industry, while others are likely to be less affected, such as the food and pharma industries. This provides a certain degree of stability in times of increased uncertainty and economic downturn. It is currently impossible to assess to which extent Covid-19 will affect BEWiSynbra’s operations. However, it must be assumed that Covid-19 will dampen sales during the year.
“Being in control of the whole production chain and able to supply our EPS converting plants with own EPS Raw material means that production at our insulation and packaging plants is secured, and our customers can be certain of our ability to fulfil our commitments,” says Jonas Siljeskär, CEO of BEWiSynbra Group. “BEWiSynbra has a strong financial position and even though the 2020 roadmap is slightly different than planned, we are well positioned for further growth. Being a family company with more than 40 years of business, facing challenges and difficult times is part of our history. We see many opportunities for growth and innovation which we will explore and in parallel continue to monitor the development of the market situation closely.”
The annual report is available in both English and Swedish from the company’s website www.bewisynbra.com/reports.
For further information, please contact:
Jonas Siljeskär, CEO of BEWiSynbra, tel: +46 70 600 3706
Hanna Laurentz, Director of Communication and IR of BEWiSynbra, tel: +46 70 177 4400
About BEWiSynbra Group AB
BEWiSynbra Group is one of the largest vertically integrated producers of expandable polystyrene (EPS) in Europe, focusing on sustainable solutions for packaging and components, as well as insulation. Innovation is a key driver for the Group’s competitive advantage and sustainability, and BEWiSynbra has an ambitious approach to its recycling initiatives.