Vida to buy Niab Hestra from AssiDomän
Vida to buy Niab Hestra from AssiDomän AssiDomän has reached an agreement in principle for the sale of Niab Hestra AB and the Hestra sawmill. The purchaser is sawmill group Vida AB with operations in southern Sweden. This sale is in line with the process that is under way at AssiDomän towards greater concentration of operations. The strategy for timber and wood products is to focus mainly on pine (redwood). Hestra is exclusively a spruce (whitewood) sawmill, just as Niab's processing is focused on whitewood. Niab Hestra and the Hestra sawmill have a combined annual turnover of approximately MSEK 300 and employ 175 people. Sawn volume amounts to 3 3 110,000 m each year, of which 85,000 m is further processed through planing. Production focuses on packaging products including pallet collars, cable drums and shelving systems. Niab is a leading producer of these products in Sweden. Vida AB is a privately owned group with sawmill and wood processing operations in southern Sweden. Following this acquisition, the group will 3 produce approximately 500,000 m of sawn timber per year, have a turnover of SEK 1.1 billion and employ some 500 people. AssiDomän is one of Europe's leading forest products companies. Production is concentrated on sawn timber, packaging paper and packaging. The Group had a turnover of approximately SEK 24 billion in 1998 and has 17,000 employees. AssiDoman AB Corporate Communications 17 January 2000 For further information: Anders Nilsson, Business Unit Manager AssiDomän Timber, Tel. +46 8 655 9152 Börje Forsberg, Business Unit Manager AssiDomän Wood Products, Tel. +46 70 522 09 30 Christer Johansson, Chairman Vida AB, Tel.+46 0472 364 00 Santhe Dahl, CEO Vida AB, Tel. +46 472 130 55 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/17/20000117BIT00500/bit0001.doc http://www.bit.se/bitonline/2000/01/17/20000117BIT00500/bit0002.pdf