Norwegian EPS specialist Bewi (Trondheim; www.bewi.com) has completed its takeover of domestic competitor Jackon (Frederiksstad; www.jackon.no), which was announced around this time last year (see Plasteurope.com of 12.11.2021).

The acquisition, which finished October, strengthens the market position for packaging and insulation solutions in Europe, Bewi CEO Christian Bekken said. “We see great potential for synergies.”

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As a result of the acquisition, Bewi will have not only several processing sites, but also gains 84,000 t/y of EPS capacity in Weimar, Germany, according to Plasteurope.com’s Polyglobe database (www.polyglobe.net). This comes on top of Bewi’s EPS plants in Porvoo, Finland, and Etten-Leur, the Netherlands, and their combined capacity of 190,000 t/y.

The road to completing the deal was bumpy as approval was conditional: Bewi was to sell four Jackon processing sites (see Plasteurope.com of 28.09.2022), and NOK 2 bn (EUR 195 mn) in property in Sweden and Norway. To further strengthen its capital base, in March the company announced plans to issue nearly 430,000 new shares to bring the company total to around 157 mn.