"The agreement enables us to further strengthen our capacity to serve leading European car manufacturers by providing a solution to their need of supply in a strained situation. We are honoured by the trust placed in us by key customers of Philippine TK, and we look forward to further develop our collaboration going forward," says
The agreement includes acquisition of equipment from two facilities, inventory, customer stock, and personnel, in addition to IPR and certificates. This includes the operations on the Schkopau site (near
The parties have agreed not to disclose the sales price for the acquired assets. The conclusion of the agreement is subject to certain conditions precedent and final approvals, which are expected in the third quarter of 2024.
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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.
https://news.cision.com/bewi-asa/r/bewi-strengthens-its-automotive-business-by-acquiring-assets-from-insolvent-part-of-philippine-group,c4014007
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