Jablite Announces Re-Structure

JABLITE HAS FORMED a new company that is jointly-owned by Chairman John Colley, Managing Director Richard Lee and Financial Director, John Cooper with a new investor, BEWiSynbra, European manufacturers of expandable polystyrene.

The re-structure follows a difficult lockdown period which led to a pre-pack administration process being activated.

Jablite Managing Director Richard Lee, says, “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 a manufacturer of expandable polystyrene (EPS) in Europe, with a focus on sustainability and a closed loop strategy. The investment in Jablite aims to guarantee a secure, sustainable supply chain to Jablite customers.

BEWiSynbra board member, Rik Dobbeleare, becomes a non-executive director of Jablite, representing BEWiSynbra on the Jablite board. He says, “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.”