DRAKA POLYMER FILMS BV (“DRAKA”) WILL REMAIN INDEPENDENT, WITH HEALTH OPERATIONS AND SECURE GOING CONCERN

Draka hereby communicates that it respects Renolit’s strategic choice of not renewing the SPA.

Draka is a Global company – last year exported to 59 countries; market leader in the Office Supplies market (PVC) – which declined and now stabilized; but the Company also has the calanders and capacity to expand in other markets – as it has already been doing in markets such as tapes, coat, and decorative.

During the anti-trust investigation process we could see that Draka’s customers are happy to buy from us. We learned that we offer good quality products and best-in-class services to the market. A key reason why the Merger had not been approved yet by antitrust authorities, was that our clients wanted to keep relying on Draka’s outstanding products and services, which they claimed to be superior to our competition.

In the last 53 years, the factory located in Enkhuizen also generated high value to suppliers and its stakeholder, in general; today Draka generates more than 140 direct jobs and we want to continue this story.

“I see that we have the human capital, competitive advantages and resources which are needed to keep Draka’s operation healthy” says Rubens Leite, CEO Vulcalux Nederland B.V. (holding company of Draka Polymer Films B.V.)

Rubens continues: “In 2018 Draka recorded positive results, and as of now we are advancing in a solid business plan to keep the positive trend and secure the perpetuity of our business. We are ready as ever to take on new innovative projects and continue serving our valued customers the best way we can, as they deserve.”