Jablite has been incorporated as a new company that is jointly-owned by Chairman John Colley, Managing Director Richard Lee and Financial Director, John Cooper with a new investment partner, BEWiSynbra, a leading manufacturer of expandable polystyrene in Europe.
This re-structure follows a difficult lockdown period which led to a pre-pack administration process being activated.
Richard Lee, Managing Director, explained: “We had an exceptionally strong start to 2020 but the halt-to-business during the lockdown was a tough challenge for Jablite and the Board of Directors reluctantly took the decision to enter a pre-pack administration process.”
“As a result of this process and thanks to the outstanding efforts of my fellow Directors I am really delighted that we have been able to partner with BEWiSynbra to buy the old business and to create a new company that will continue trading as Jablite.”
BEWiSynbra is a manufacturer of expandable polystyrene (EPS) in Europe, it is well-known for its focus on sustainability and for leading change with its closed loop strategy. This new investment in Jablite guarantees a secure, sustainable supply chain to all Jablite customers with the additional benefit of access to the most innovative EPS supplier in Europe.
BEWiSynbra Board Member, Rik Dobbeleare, is a non-executive Director of Jablite, he represents BEWiSynbra on the Jablite Board and will be contributing his outstanding expertise and experience of the EPS market.
He said: “BEWiSynbra is very pleased to have this opportunity to invest in Jablite, although it has arisen out of unfortunate circumstances, the fit between our two businesses is a good one with many positive synergies and similarities of outlook. I look forward to working with the excellent Jablite team to build a new market-leading business in the UK.”