DLA Piper advises BEWI on the acquisition of assets from insolvent Philippine TK

DLA Piper has advised the Norwegian BEWI Group on the acquisition of assets related to the production of EPP-based components from the insolvent Philippine & Co GmbH Technische Kunststoffe KG (Philippine TK).

BEWI is taking over certain equipment and personnel as well as IP rights and certificates, including the operations at the Schkopau site near Leipzig. Through the acquisition, BEWI intends to expand its capacity and customer base in the production of EPP components for the automotive industry.

BEWI ASA, listed at the Oslo stock exchange, is a leading provider of packaging, component and insulation solutions with 75 operating facilities across Europe and over 3,200 employees.

Philippine TK is an automotive supplier with a focus on plastic applications in motor vehicles. The company has around 400 employees at its headquarters in Lahnstein and its subsidiaries Philippine Technische Kunststoffe GmbH Schkopau and Philippine Hungária Kft.

The DLA Piper team was led by partner Gerald Schumann and counsel Hanna Lütkens (both Corporate/M&A, Munich) supported by partners Guido Kleve (Public Law/Regulatory, Cologne), Dr Marie-Theres Rämer (Tax, Frankfurt), Pascal Kremp (Employment, Munich) and Dr Dietmar Schulz (Restructuring, Munich), counsel Dr Enno Ahlenstiel (Antitrust, Cologne), Moritz Mursa (Real Estate, Frankfurt) and Dr Katharina Marx (Tax, Frankfurt), senior associates Dr Philipp Reclam, Franziska Weinzierl (both Real Estate, Frankfurt) and Annika Heinz (Employment, Munich), as well as associates Tina Popp (Real Estate, Frankfurt), Yolanda Ristau and Dr Lukas Reitebuch (both Corporate/M&A, Munich).