Metsä sells German CLT operation
19 March 2013Metsä Group has passed its German timber construction operation to a leading German building construction and civil engineering company.
Metsä will divest the shares of Metsä Wood Merk to Ed. Zubin, part of the Strabag Group without any significant capital gain or loss, the Finnish company said.
"The arrangements supports the focus of Metsä Wood and its German subsidiary on providing wood construction system and product component solutions in the central European market," a Metsä spokesperson said.
Metsä Wood Merk is a specialist in the manufacture of large-format cross-laminated timber panels. It had sales of €21m and employs 100 people.
Stuttgart-based Züblin has been expanding its structural timber engineering business and will bundle the operations into one unit with 250 employees and projected annual revenue of about €50m.
Wood Merk was one of several operations Metsä has in Germany, mainly in large engineered wood and construction timber.
