KMC Properties ASA

M&A Activity • Mar 3, 2021

KMC Properties signs letter of intent with BEWI for development of packaging hub at Hitra

KMC Properties signs letter of intent with BEWI for development of packaging hub at Hitra

KMC Properties today announces that the company has entered a letter of intent with the listed packaging and insulation company BEWI ASA for development of a new packaging facility on Jøsnøya, Hitra, on the west coast of Central Norway. The new facility will be BEWI's most modern and efficient facility for production of fish boxes, and in addition have facilities to serve an increasing volume of reusable boxes and reusable pallets.

“As previously communicated, we aim to grow both through organic initiatives with our existing tenants and through M&A opportunities. BEWI is already our largest tenant, and we are very pleased to be able to further grow together with this customer. The new packaging hub has a strategic location for deliveries to BEWI’s key customers within the fish farming industry,” says Liv Malvik, CEO of KMC Properties.

According to the letter of intent, the new facility shall be owned by KMC Properties and leased to BEWI. Initial lease term is set at 15 years, with an option for BEWI to extend the lease term two times by five years each time.

For further information, please contact:

Liv Malvik, CEO of KMC Properties ASA, tel. +4748003175

About KMC Properties ASA

KMC Properties is an Oslo Børs listed real estate company focusing on industrial- and logistic properties. The company has a diversified portfolio of 39 properties in the Nordics and the Netherlands, as well as an office building in Moscow, Russia. The properties are strategically located and have long lease agreements with solid tenants.

KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives.

The information is such that KMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 3 March 2021.