|  
Roundwood/Sawnwood» More news on Roundwood/Sawnwood

Bergs Timber aiming to take over Norvik companies

02.02.2018 − 

Swedish Bergs Timber submitted a letter of intent to its largest individual shareholder, Icelandic Norvik, on 22 January for taking over four production and trading facilities of the Latvian Norvik subsidiary Norvik Timber Industry (NTI) in Estonia, Latvia, and the UK.

This letter of intent relates in detail to Vika Wood, Byko Lat (both Latvia), Laesti, EWP (both Estonia), and British Continental Wood Products, including the activities of Wayland Timber Products which had already been integrated into Continental Wood Products a few years ago.

The northwest Russian Norwood, which also belongs to NTI, is not part of the planned takeover. The agreement does, however, provide for the continuation of supplies of timber from Norwood. Bergs Timber is also granted the option of taking over Norwood, too, during the course of the next four years.

Tags of this news:

previous − Juodeliai group aiming to boost sales revenue by 21.6%

Almost 3m m³ more logs taken in by Finnish industry  − next