Sveza confirms Fankom takeover

In a press release dated 17 April 2012, the Russian Sveza Group confirmed the conclusion of the takeover of the softwood and birch-plywood producer ZAO Fankom, which had already become known in the trade in March. According to Sveza, Fankom boasts annual production capacity of 180,000 m³ of birch and softwood-plywood and is therefore the third biggest plywood producer in Russia. With this takeover, Sveza enters into the softwood-plywood business for the first time