Setra to sell mill to Bergs Timber

“The decision of this divestment is logical as Setra Vimmerby is not particularly integrated with Setra’s other production units as regards market concept and supply of raw material,” says Hannele Arvonen, president and CEO of Setra.

Bergs will pay for the mill in cash and new shares in Bergs Timber, which will give Setra approximately 6% ownership in Bergs.

The transfer is expected to take place on January 9, with completion subject to the parties entering a final transition agreement for certain administrative services from Setra to Bergs Timber for a period and also other considerations.

The Vimmerby mill is one of Setra's 12 production units and is located only 40km from Bergs Timber’s facility in Mörlunda.