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METIS advises Woodbridge Foam Corporation on the sale of its participation in Proseat

METIS Rechtsanwälte LLP has advised the Canadian Woodbridge Foam Corporation on the sale of its 49 percent share in the Proseat group to the Belgian company Recticel S.A.

Woodbridge is a leading international producer of molded foam automotive products.

Proseat was established in 1999 as a joint venture between Woodbridge and Recticel to serve car manufacturers with molded seat pads and head and armrests in polyurethane. The joint venture went on to develop complementary activities in lightweight EPP (expanded polypropylene) structural parts, also for the automotive sector. The Proseat group currently has 8 production sites throughout Europe. The METIS team consisted of Dr. Andreas Rasner, Dr. Lars Friske, Dr. Felix Dette and Bettine Jankowski (all Corporate/M&A). Recticel was advised by White & Case under the direction of Muriel Alhadeff.

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