In response to the media buzz regarding the alleged acquisition agreement of Boerner Insulation, we inform that it is not true.

The official statement from the Ministry of Development and Technology regarding the information appearing in the media about the alleged sale of Boerner Insulation.

Also, the business press questions the information about the alleged transaction. As Bartłomiej Mayer writes in Puls Biznesu, “The Danish conglomerate Rockwool was last mentioned in mid-November. PAP reported that the National Anti-Corruption Bureau of Ukraine (NACP) recognized it as an international sponsor of the Russian war. The direct reason was that the company supplied insulation for Russian warships.”

We encourage you to read the full article in Puls Biznesu:

At the same time, we inform that the process of acquiring the assets of both companies, Boerner Insulation and Boerner Service, is ongoing. We remind entities that have applied to the process within the deadline set in the published Invitation, to send Sanction Statements by the end of December – an integral part of the sanctions screening.

Only entities that pass positive verification will receive an invitation to submit preliminary, non-binding offers!

Warsaw, 28 December 2023 r.

The statement by Rockwool may constitute an act of unfair competition

All information regarding the alleged signing of an acquisition agreement by the Danish company Rockwool for Boerner Insulation is false. We consider these reports to be merely media noise, aimed at disrupting the only legal process of selling the assets of Boerner Insulation and Boerner Service, which is being conducted by the Compulsory Administrator in accordance with the law. Over 20 entities have expressed interest in acquiring the assets of Boerner Service and Boerner Insulation.

“We have demanded that Rockwool immediately remove the aforementioned statement from the public and media space and publicly announce its withdrawal from its content. In our opinion, Rockwool’s statement may constitute an act of unfair competition and violate the sanctions law. We have already informed the relevant state authorities, including the Minister of Development and Technology, who appointed the Administrator,” says Tomasz Butkiewicz, spokesperson for the Administrator.

Boerner Insulation and Boerner Service, owned by the Russian conglomerate Technonicol, were added to the sanctions list in May 2023 by the decision of the Minister of Internal Affairs and Administration. Compulsory administration was introduced in both entities, and Paweł Piotrowski was appointed as the Compulsory Administrator.

Paweł Piotrowski, the Compulsory Administrator of Boerner Insulation, did not sign any agreement regarding the sale of the company’s assets, nor, as the only authorized person, did he consent to the disposal of the company itself – says Tomasz Butkiewicz, the press spokesman for the Administrator. – The operation of the Boerner Insulation plant in Wykroty was resumed a few months ago. The process of production and sale of the manufactured materials is ongoing – says Butkiewicz.

The process of selling the company’s assets is proceeding according to the planned schedule. Over 20 entities have applied to participate in the process. By the end of the year, they are to submit so-called sanction declarations, excluding a situation where a potential transaction would bypass sanctions or use financial resources to support Russia’s aggression in Ukraine. Interestingly, Rockwool did not apply to acquire Boerner’s assets in the open procedure.

Rockwool, as reported by the portal, is a Danish conglomerate still operating in Russia and profiting from orders for the Russian Ministry of Defense.

In November, Rockwool was recognized by the Ukrainian authorities as an international sponsor of the Russian war. In its justification, the National Anti-Corruption Bureau of Ukraine (NACP) emphasized that “after Russia’s full-scale invasion of Ukraine, Rockwool made a conscious decision to remain in the Russian market” (PAP, 13.11.2023).

As a reminder, the company’s products used for insulation, soundproofing, and fire protection in buildings have also been used in the construction and refurbishment of ships of the Russian Navy, including nuclear submarines. (PAP, 13.11.2023)

The Danish investigative collective Danwatch and the newspaper “Ekstra Bladet” revealed that Rockwool systematically and deliberately supplied the Russian Navy with hundreds of thousands of square meters of insulation. According to the media, since the illegal annexation of Crimea in 2014, Rockwool materials have been sold to Russia for outfitting at least 31 ships. (PAP, 13.11.2023)

More information:
Tomasz Butkiewicz, Press Spokesman for the Compulsory Administrator
+48 605 409 399

Sara Florczak-Płucz, Legal Advisor
+48 531 288 062