HIRSCH SERVO
Agreement to buy French EPS sites and stake in Isossol / Deals done with partner BEWiSynbra
BEWiSynbra (Solna / Sweden; www.bewisynbra.com) and Hirsch Servo (Glanegg / Austria; www.hirsch-gruppe.com) have agreed to buy six EPS insulation production sites in France along with 49.9% of Isossol (Monts / France; www.isossol-isolation.fr), which is owned by Placoplatre (Suresnes / France; www.placoplatre.fr), a subsidiary of Saint-Gobain (Paris / France; www.saint-gobain.com). The acquisitions will be executed through Hirsch France, a newly incorporated French company owned 66% by Hirsch and 34% by BEWiSynbra.

Financial terms were not disclosed. The transactions remain subject to customary conditions, including regulatory approval, but are expected to complete by the end of 2019. The companies said the deals continue to build on their successful cooperation and strengthen BEWiSynbra’s position as a leading European EPS producer.

The cooperation between the two EPS companies was initiated in May 2018 with the sale of a 66% stake in Synbra’s subsidiary IsoBouw to Hirsch and BEWiSynbra’s simultaneous purchase of a 34% share in Hirsch Porozell – see Plasteurope.com of 21.02.2018. In August 2019, BEWiSynbra also agreed to buy a 51% stake in Danish recycler Eurec (Hedensted) – see Plasteurope.com of 23.08.2019. This deal followed the purchase of 51% in Belgian recycling company Eco Fill (Bornem; www.ecofill.be) in March 2019.

20.11.2019 Plasteurope.com [243913-0]
Published on 20.11.2019
Hirsch Servo: EPS-Verarbeiter expandiert nach FrankreichGerman version of this article...

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