Foamit Oyj has signed a cooperation agreement with Reiling GmbH & Co. KG to establish a joint venture in Germany focused on expanding foam glass production and leveraging sustainable materials in the construction sector.

Target Information

Foamit Oyj, formerly known as Partnera Oyj, has signed a cooperation agreement with the German company Reiling GmbH & Co. KG to collaborate in the foam glass business. This agreement includes negotiations for Foamit to acquire a majority stake in Reiling’s foam glass manufacturing subsidiary, Veriso GmbH & Co. KG. Through an initial investment of approximately €3 million, Foamit aims to obtain over a 50% ownership interest in the joint venture, while Reiling will remain the second largest stakeholder. The joint venture encompasses Veriso, including its current two foam glass manufacturing facilities and a planned new factory.

The primary goal of this collaboration is to enhance and expand the production capabilities of Veriso’s existing facilities and to establish a new foam glass factory in Germany. This initiative presents Foamit with a rapid expansion opportunity into the Central European market.

Industry Overview in Germany

Germany boasts a robust recycling industry, being a leader in waste management and recycling initiatives across Europe. The country’s commitment to sustainability and circular economy principles has fostered an environment conducive for innovations