Armacell Sells PE Technical Foam Business to NMC
Armacell and NMC, both leading companies in the synthetic foam market, announced that they have agreed to transfer Armacell’s PE Technical Foam business in Europe to NMC, effective on 1 September, 2011. Under the agreement, NMC will take over the polyethylene packaging, industrial and leisure foam operations from Armacell together with the relevant employees and machines currently at Armacell’s Thimister plant in Belgium.
Armacell’s PE Insulation and PET Core Foam businesses as well as the company’s North American PE Technical Foam business and worldwide synthetic rubber foam business are not affected by this move and will remain strategic growth priorities for Armacell.
Effective 1 September, 20 full-time equivalents at the Thimister site will operate under contract and supervision of NMC sa, and all commercial transactions will be executed by NMC sa. Over the coming months, at least two of the four extrusion lines will be moved to NMC’s Eynatten site, located 20 km from Thimister. The 20 employees in Thimister will relocate their workplaces to Eynatten in line with the transfer of the equipment.
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