BEWI initiates strategic review of the automotive business

17 Jun 2024 08:24 CEST

BEWI ASA, a leading provider of packaging, components, and insulation solutions,
today announces that the group is initiating a strategic review process for its
automotive business.

BEWI's automotive business is a leading specialist in the manufacturing of
advanced insulation and soundproofing solutions for the automotive industry. The
activities are currently reported under the group's Packaging & Components
segment and includes BEWI's ownership interest in the listed Polish automotive
company IZOBLOK Spólka Akcyjna ("IZOBLOK"), as well as the group's automotive
activities in Sweden. In 2023, the automotive business had an annual turnover of
approximately EUR 75 million. BEWI has appointed Stout as financial advisor for
the strategic review of its automotive business.

The review is initiated with a target to further develop the automotive
business, as well as to enable the allocation of capital to accelerate growth in
insulation and other energy-efficient solutions. This aligns with previous
communication about the company's main growth areas.

Contact:

Charlotte Knudsen, Chief Communications and IR Officer BEWI ASA, tel: +47 9756
1959

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation
solutions. The company's commitment to sustainability is integrated throughout
the value chain, from production of raw materials and end goods, to recycling of
used products. With a vision to protect people and goods for a better every day,
BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

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