New Shareholder Structure of the proseat group

Sekisui Plastics Co., Ltd. (hereafter Sekisui), Japan is taking over 75% of shares


19th December, 2018

Mr Stefan Hünermann, President & CEO of proseat Group announces:

On December 18th 2018 Proseat shareholders signed an agreement resulting in a new shareholder structure:
Woodbridge Foam Corporation sold their 49% shares in proseat. The new shareholder Sekisui Plastics Co Ltd is taking over 75% and Recticel holding 25% of the proseat group in future.

The transaction is still subject to approval from regulating authorities and is planned to be finalized in Quarter 1, 2019. Once closing of this transaction will be effected it will be communicated separately in due time.

The Sekisui Group with Headquarters in Japan, operates in 4 business groups (Sekisui Chemical, Sekisui House, Sekisui Jushi, Sekisui Plastics) and generates an annual turnover of 26 billion Euro globally.

With regards to the business scope of Proseat, Sekisui Plastics Co Ltd confirmed that there will be support for all running business activities. Proseat will continue to develop, produce and deliver Molded Foam Parts, Interior Parts and EPP Parts for the Automotive Industry.

Stefan Hünermann, President and CEO states: „We like to take the opportunity to express our appreciation for the long term fruitful co-operation with Woodbridge and thank the Woodbridge team for all the efforts taken. At the same time, we are truly excited about welcoming Sekisui Plastics Co Ltd as our new majority Shareholder because we see the synergies and opportunities the change is bringing for our business, for example in enhancement of product range or in access to potential new customers.“

https://www.recticel.com/recticel-divests-its-proseat-joint-venture-two-steps.html
https://www.woodbridgegroup.com/news/woodbridge-divests-proseat-joint-venture-europe/

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Proseat, is one oft he leading manufacturer of PU-Moulded Foam Part, EPP components as well as Headrest and Armrestmodules for car seating to the automotive industry in Europe.
The company operates 8 production plants in 6 European countries.
In 2017 proseat realized sales of 291 million € with 2.600 people employed.
Next to proseat‘s core business of Polyurethan-Foam for the automotive sector, the development and production of light weight components as well as of seating and interior components are part of proseat’s current product portfolio.

For further information, please contact:

Proseat GmbH + Co. KG
Cathrin Paradies
Hessenring 32
D-64546 Mörfelden-Walldorf
cathrin.paradies@proseat.de

Phone: +49 6105 200 661