Setra Group

Strong Swedish krona explains negative quarterly result

4/18/2013 7:56 AM EST

The wood products company Setra reports net sales of SEK 945 (1,065) million for the first quarter of 2013. Operating loss for the period January-March amounted to SEK 26 (27) million.
“The operating loss for the period January-March is almost at the same level as in the first quarter last year. When comparing the two quarters, however, it is worth noting that the exchange rate development with a considerably...

CEO Johan Padel leaves Setra

2/19/2013 4:00 AM EST

An agreement has been reached between Setra and Johan Padel to the effect that Padel is leaving his position as CEO. Until a new CEO has been appointed, CFO Stefan Lundin’s responsibilities are extended to encompass also the role of acting CEO of Setra.
“This agreement should be seen against the background of differing views of the Board and Padel regarding the form and manner in which the company's operations...

New orders for Plusshus

2/15/2013 6:03 AM EST

Setra’s subsidiary Plusshus has signed new orders worth SEK 45 million during the first months of this year. Major projects include senior housing units in Northern Norway and a terraced housing area in Greater Stockholm.
“It is really gratifying to see a light at the end of the tunnel in this tough construction market,” says Nils Clausén, CEO of Setra’s subsidiary Plusshus.

“This means that from mid-March we...

Driftwood takes pride of place at Stockholmsmässan

2/5/2013 8:21 AM EST

Today, Tuesday 5 February, the doors will open to the Stockholm Furniture & Light Fair. One of the exhibitors is the young designer duo Linda Hagberg and Thomas Impiglia. Their chosen contribution Driftwood is an attractive furniture series inspired by natural structure of wood. The raw material comes from Helsinge spruce sawn by Setra in Färila.
“The idea was born from an interest in wood as a living...

Setra reports loss for 2012 due to weak business climate

1/29/2013 5:23 AM EST

Wood products company Setra reports net sales of SEK 4,069 million (4,476) for the full-year 2012. Net sales in the fourth quarter amounted to SEK 951 million (1,076). The operating loss for the period January-December amounted to SEK 80 million (42), of which SEK 20 million related to restructuring costs for the closure of the Horndal sawmill. Operating loss for the fourth quarter, excluding restructuring costs,...

Information from Extraordinary General Meeting

11/28/2012 8:09 AM EST

Setra Group AB (publ) held an Extraordinary General Meeting at Setra’s head office in Solna on Tuesday, 27 November.
At the Extraordinary General Meeting Michael Bertorp was elected as the new independent Chairman of Setra’s Board to succeed Håkan Ahlqvist who has tendered his resignation.

Michael Bertorp was born in 1949 and holds an LL.M degree from Lund University, 1972. For several years he held a number...

Joint organisation for raw materials and bioproducts

11/19/2012 7:58 AM EST

Setra is placing responsibility for raw material purchasing and bioproduct sales in a combined organisation. The new organisation will be headed by Klas Flygare.
Purchases of timber raw materials and sales of bioproducts for Setra’s Whitewood, Redwood, and Wood Products business areas, will be co-ordinated in a joint organisation with effect from 1 December. Klas Flygare, who is currently responsible for...

New Chairman for Setra

11/12/2012 11:15 AM EST

Håkan Ahlqvist, Chairman of Setra’s Board since the 2009 AGM, is standing down. A new chairman will be elected at an extraordinary general meeting to be held on 27 November.
Håkan Ahlqvist comments: After almost four years as Setra’s Chairman the time is now right to hand over to someone new. The industry is facing a turbulent period and Setra needs to further review its strategic direction.

“It has been...

New trimmer inaugurated at Setra Skinnskatteberg

10/30/2012 6:31 AM EST

The new trimmer at Skinnskatteberg sawmill was inaugurated on Friday, 26 October. The total investment amounted to SEK 60 million and will improve both efficiency and production quality.
“This is an important milestone for the Skinnskatteberg sawmill,” says Johan Padel, Setra’s President and CEO at the official inauguration. “When the business climate turns around we will be ready to meet future demands in...

Setra to reduce production at Vimmerby sawmill

10/24/2012 10:18 AM EST

Against the background of the serious sawlog situation in southern Sweden, Setra is giving notice of production cutbacks of 20% at the Vimmerby sawmill. This affects a total of just over 20 employees.
A tough regional raw material situation with weak supplies and high prices, combined with the uncertain market situation, lie behind Setra’s decision to restrict its production volume at the redwood sawmill in...

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