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Bergs Timber acquires four Norvik companies

07.05.2018 − 

Swedish Bergs Timber and its biggest single shareholder, Icelandic Norvik signed an agreement on 17 April for the acquisition of a total of four production and trading facilities in Estonia, Latvia, and the UK of Latvian Norvik Timber Industry (NTI). The agreement was preceded by an appropriate letter of intent on 22 January.

Under the terms of the agreement, Bergs Timber will acquire from NTI Latvian Vika Wood , Latvian Byko Lat, Estonian Laesti , Estonian EWP, and British Continental Wood Products, including the activities of Wayland Timber that had already been integrated into Continental Wood Products a few years ago. When the takeover is completed, Bergs Timber’s production capacity will rise from the present 530,000 m³ to an estimated 920,000 m³ per year.

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