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RNS - BEWI - Closing of acquisition of Lithuanian insulation company BalPol

Company: BEWI Date: 2022-08-31 Language: English Register to download

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 BEWI - Closing of acquisition of Lithuanian insulation company BalPol

# 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.  

  

Contact:  

  

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.