Acquisition of Vulcalux’s Office Supplies Business by RENOLIT will not take place

Worms, January 14, 2019 – In September 2018 RENOLIT Benelux B.V., a subsidiary of RENOLIT SE, announced its intention to purchase the business interests of Draka Polymer Films B.V. from its parent company Vulcalux Nederland B.V. Draka Polymer Films B.V. is a leading manufacturer of vinyl films for the office supplies business.

Both companies signed a letter of intent regarding the share purchasing agreement which foresaw the takeover of the Draka plant in Enkhuizen in the Netherlands by RENOLIT. The transaction should have closed by the end of 2018. 

The anti-trust authorities’ review proceedings which started in late autumn could not be completed with a positive result by the end of 2018. “As we assume that the process will take much longer than expected and thus the original economic assumptions no longer apply, RENOLIT has decided to make use the purchase agreement’s opt-out provision and withdraw from the agreement” says Dr. Axel Bruder, the responsible RENOLIT Board Member.

 

The Company

The RENOLIT Group is a globally-active specialist for high-quality plastic films, sheets and other plastic products. With more than thirty locations in over twenty countries, and with annual sales of EUR 1,016 billion in fiscal year 2017, the company with headquarters Worms – nearly fifty km northwest of Heidelberg – is one of the world’s leading plastics product manufacturers. Over 4,700 employees continue to further the knowledge and expertise gained from over seventy years of business.

www.renolit.com ꟾ Twitter  Facebook  Linkedin

 

For editorial questions, please contact:

Dr. Matthias Müller
Corporate Communications
RENOLIT SE
Tel.: + 49.6241.303.1175
Fax: + 49.6241.303.18.1175
matthias.mueller@remove-this.renolit.com