Norwegian EPS specialist Bewi (Trondheim; www.bewi.com) continued its growth via acquisition with the purchase of two more companies – one Czech, one Spain. It bought the remaining 66% interest in Inoplast (Slany, Czech Republic; www.inoplast.cz), making it the 100% owner of the Czech recycling company.

Related: Bewi takeover of compatriot EPS specialist Jackon complete

In 2021, Bewi bought a 34% stake in Inoplast. The Czech firm specialises in recycling expanded polystyrene, polypropylene, HDPE film, PET, and various other plastics. Inoplast has annual revenues of around EUR 6 mn and “healthy” EBITDA margins.

In addition, Bewi has agreed to buy an 80% stake in Aislamientos y Envases (Aislenvas, Alicante, Spain; www.aislenvas.es), which operates three domestic facilities. Its key products are insulation solutions, including EPS boards for underfloor heating and EPS panels for external thermal insulation composite systems (ETICS). The company generated revenues totaling around EUR 16 mn in 2021, with EBITDA of EUR 3.5 mn. The deal is expected to close in the fourth quarter of 2022.

The Norwegian firm said the European Commission has imposed an anti-trust fine of EUR 17.2 mn on its unit Synbra. Bewi agreed to pay the fine though it was not involved in the styrene monomer price fixing, having only become legal owner of Synbra following its acquisition in 2018 (see Plasteurope.com of 29.11.2022).