The Austrian wood manufacturer Holzindustrie Schweighofer, owned by business man Gerald Schweighofer took over the Finnforest Baco Production company from Bacau. Finnforest Baco Production businesses totalised 20 million euros and was owned by the Finnish group Metsaliitto Cooperative.
This ois the second transaction the Austrian group completed in the last 12 months on the local market. In December 2008, they also purchased the former IKEA factory from Siret. The value of the transation was not made public at the time, but according to some estimates it was aroud 10 million euros.
„The purchase of Finnforest Baco is a completion of our activities. The purpose is to extend our range of products and to increase the manufacturing rate. This is a step torwards new global markets”, declared Gerald Schweighofer.
Holzindustrie Schweighofer currently owns 4 manufacturing units on the local market, two timber factories (in Sebes and Radauti), the bord factory in Siret and the new unit in Bacau.
Prior to the transation, Finnforest was one of the major clients of Holzindustrie on the local market.
Source: www.universulpadurii.ro |
