New investment in Jablite guarantees a secure, sustainable supply chain to all its customers
Jablite has been incorporated as a new company jointly-owned by Chairman John Colley, Managing Director Richard Lee and Financial Director, John Cooper with a new investment partner, BEWiSynbra, a leading manufacturer of expandable polystyrene in Europe.
This re-structure follows a difficult lockdown period which led to a pre-pack administration process being activated.
Lee said: “We had an exceptionally strong start to 2020 but the halt-to-business during the lockdown was a tough challenge for Jablite and the Board of Directors reluctantly took the decision to enter a pre-pack administration process.
“As a result of this process and thanks to the outstanding efforts of my fellow Directors I am really delighted that we have been able to partner with BEWiSynbra to buy the old business and to create a new company that will continue trading as Jablite.”
BEWiSynbra is well-known for its focus on sustainability and for leading change with its closed loop strategy. This new investment in Jablite guarantees a secure, sustainable supply chain to all Jablite customers with the additional benefit of access to the most innovative EPS supplier in Europe.
BEWiSynbra Board Member, Rik Dobbeleare, a non-executive Director of Jablite, represents BEWiSynbra on the Jablite Board and will be contributing his outstanding expertise and experience of the EPS market.
“BEWiSynbra is very pleased to have this opportunity to invest in Jablite, although it has arisen out of unfortunate circumstances, the fit between our two businesses is a good one with many positive synergies and similarities of outlook," he said.
