Recticel N.V./S.A.

Company Profile



Olympiadenlaan 2, B-1140 Brussels, Belgium

Business Overview

-The Company develops and manufactures polyurethane foam, focusing on providing innovative, lightweight and sustainable comfort solutions across multiple industries. In the fiscal year ended December 31, 2018, the Company’s operations in Europe accounted for approximately 90% of its net sales.

-The Company is organized around four business lines:

  • Flexible Foams
  • Bedding
  • Insulation
  • Automotive

-The Company’s Automotive business line consists of two divisions:

  • Interiors: Develops and manufactures elastomer interior trim solutions for the automotive industry including polyurethane compounds, dashboard skins, cockpit and door panel trim components.
  • Seating: Managed through Proseat, a 51/49 joint venture between the Company and Woodbridge Foam Corporation, the division develops and manufactures molded comfort foam pads for car seats and headrests

-The Company announced the closing of the transactions whereby Sekisui Plastics Co., Ltd. (“Sekisui”) acquires 75% in the European moulded seat cushion specialist Proseat. Recticel maintains 25% in Proseat with the option to sell this remaining participation no later than January 1, 2022. All conditions having been met and the necessary regulatory approvals being obtained, the abovementioned transactions have been closed today. The net proceeds of the current transactions amount to about EUR 21 million. Recticel, in December 2018, announced that it had entered into final agreements whereby it first acquires the remaining 49% in its Proseat joint venture from its Canadian partner Woodbridge Foam Corporation, and subsequently sells 75% in Proseat to the Japanese public company Sekisui. (From a press release on February 19, 2019)

-For the fiscal year ended December 31, 2018, the Company’s Automotive business line accounted for 24.3% of its total sales.


-The Company is listed on the Euronext Brussels Stock Exchange. (As of Dec. 31, 2018)
Shareholders Investment Ratio (%)
Compagnie du Bois Sauvage SA 27.49
Capfi Delen Asset Management NV 3.88
BNP Investment Partners 2.94
KBC Asset Management NV 3.00
Public 62.68
Total (including treasury Shares) 100.00


-Instrument panels
-Door trim
-Center consoles
-Glove box doors
-Pillar covers
-Roof trim panels
-Door trim panels
-Upper door panels
-Seat panels
-Rear panels

Supplemental Information 1