Admetos completed the acquisition of a 50% stake in Recticel Automotivemobilsysteme from Recticel.

Munich-based privately owned investment company Admetos completed the acquisition of a 50% stake in Recticel Automotivemobilsysteme, a Germany-based producer of interior trim materials in light-stable material for automotive manufacturers, from Recticel, a mattress manufacturing company. Financial terms were not disclosed. "Both transactions are essential and transformational steps to realize our strategic objectives. Divesting from the Automotive business, simplifying our Group structure and constituting a solid financial base will enable the execution of our growth strategy. I’m happy that we have found with Admetos a partner with strong capabilities to leverage the potential of the Automotive Interiors’ proprietary technology and of its qualified team. I also want to thank the Greiner AG group for the more than 27 years of fruitful cooperation with Recticel as co-shareholder of Eurofoam," Olivier Chapelle, Recictel CEO.