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Metsäliitto Wood Products Industry to sell its Romanian blockboard factory to Holzindustrie Schweighofer

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24/11/2009
Metsäliitto Wood Product Industry continues to focus on its core businesses.
Metsäliitto has made an agreement regarding the sale of its shareholding in
Finnforest Baco Production s.r.l. to the subsidiaries of Austrian company
Holzindustrie Schweighofer. 
 
The Company, operating in Comanest, Romania, has a total annual capacity of
80,000 cubic metres of blockboard. The Company's annual net sales amount to
approximately EUR 20 million, and it employs over 400 people. 
 
"Blockboard production in Romania is not our core business and by agreement we
can direct resources to other operations according to our strategy. We will
create some profit from this transaction", says Ole Salvén, Group Executive
Vice President, Metsäliitto Wood Products Industry. 
 
Finnforest Baco had produced material for Metsäliitto Wood Product Industry's
solutions for shuttering business. Metsäliitto will continue to trade in this
market sector with a full product portfolio. 
 
Finnish wood provides solutions for international demand
 
After the transaction, the core of Metsäliitto Wood Products Industry is almost
completely in Finland where Finnforest products are manufactured from Finnish
wood in 14 different production facilities in all. In addition, Wood Products
Industry has one sawmill in Estonia, and products are further processed in 15
different facilities across Europe. 
 
"According our strategy, we want to focus to offering more highly processed
products and solutions to selected end-user categories. Finnish wood products
and construction solutions are highly appreciated. Ecological sustainability of
wood products is one of our most important strengths in the future, and during
the upturn in the economy we have all possibilities to become even more
significant actor on this market" Salvén summarises. 
 
In the Romanian agreement, Metsäliitto Wood Products Industry was advised by
Raiffeisen Investment AG. The sale of Finnforest Baco Production s.r.l. is
subject to the approval of the Romanian competition authority. 
 
Further information: 
Ole Salvén, Executive Vice President, tel. +358 10 465 4870
Satu Holm-Jumppanen, Communication Manager, tel. +358 50 302 3416





                                            

                

            

        

    

    



    

        
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