Austria’s Neveon completes sale of automotive arm

Austrian foam producer Neveon has sold its automotive equipment business to focus on its vertically integrated foam business.

The automotive equipment business was sold to France's Treves Group. Antitrust approval was granted on 31 December, Neveon said today, after the sales process began in August 2023.

Neveon, a subsidiary of Austrian firm Greiner, is a major consumer of isocyanates, including TDI and MDI, and of polyols. The firm produces foam for mattresses, upholstered furniture and healthcare as well as for aviation, railway and specialty applications.

Neveon's sales were €732mn ($801.6mn) in 2022, the latest available figures.

By Laura Tovey-Fall