Woodbridge Enters Agreement to Sell European Joint Venture

19
Dec

Leading global foam supplier focused on future strategic growth plans

 Mississauga, Ontario, Canada, December 19, 2018 – The Woodbridge Group, a global leader specializing in fully-integrated foam solutions, has reached an agreement to sell its 49% interest in its Proseat joint venture to its European partner Recticel S.A. This divestiture will provide Woodbridge greater flexibility in realigning the company’s European strategy, market coverage and overall global footprint in support of its customers.

Woodbridge has developed global business relationships with its European customers and these partnerships are critical to the success of their business.  As such, this transaction with Recticel S.A. will be a seamless transition and Woodbridge will ensure continuity of technical support and production supply to its European customers. Woodbridge remains committed to supporting these customers globally. Further announcements will be made in the future on this matter.

Woodbridge would like to thank Recticel for its 19-year partnership in the Proseat joint venture.

About Woodbridge
The Woodbridge Group serves the automotive, commercial, recreational, packaging, healthcare and building industries. The company also provides chemical research and development, product and process engineering, tooling, technical support and accredited laboratory testing to a diverse customer base. For more information, please visit www.woodbridgegroup.com.

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For inquiries or more information, please contact:
Leonard Roelant, Vice President Product Management, Marketing & Strategy
Office: 248-280-6983
Email: Leonard_Roelant@woodbridgegroup.com