BRUSSELS, Belgium (Dec. 22, 2009)—Belgian foam maker Recticel S.A. has decided to sell its remaining money-losing car-window encapsulation businesses in Gilly, Belgium, to Group Strazzante.
The sale, subject to certain conditions, will be completed before the end of this year, and the 100-person workforce will be transferred to Strazzante, an industrial group.
Recticel sold its window encapsulation operations in France and the Czech Republic to Asahi Glass Co. at the end of 2005, but hung on in that sector from the site in Gilly. Its annual sales from the business totaled about $5.2 million.