Setra sells Norwegian mouldings subsidiary

Setra is selling Norwegian mouldings manufacturer Barkevik for an undisclosed sum.

Mølen AS, which sold Barkevik to Setra in 2008, is now buying back the company. Barkevik is one of Norway’s leading manufacturers of pine and oak mouldings.

“The sale of our Norwegian subsidiary Barkevik is in line with our aim to strengthen the business and concentrate production geographically to Setra’s core area in central Sweden,” said Börje Bengtsson, president and CEO of Setra.

Barkevik, which sells to the building materials trade and industrial customers, employs 45 people and two production units in Helgeroa near Larvik and in Skien.

Barkevik CEO Eivind Funnemark said he looked forward to the further development of the business.

“Setra has been supplying high quality pine moulding products to Barkevik for 20 years and we look forward to continued good co-operation,” he said.

The manufacturer will continue to represent Setra as a contract partner for construction wood in the Norwegian building materials trade.

Barkevik has annual sales of SKr225m.