Holmen acquisition of Martinsons gets green light14 September 2020
Holmen’s agreement to acquire Martinsons, one of Sweden's leading players in sawn and processed wood products, has been given the green light by the Swedish Competition Authority.
The merger plans, revealed this summer, can thus take effect on October 1. Holmen’s head of wood products Johan Padel welcomed the decision and work would now continue on striving to get the best mix of Holmen and Martinsons.
“It is a job that will take time,” he said. “At present it is "business as usual".
The acquisition will allow Holmen to refine a large part of the raw material from its own forests in its own industry and gain a strong position in the wood market in northern Sweden. At the same time, Martinsons will get a new strong and long-term owner who will continue to develop the business and strengthen its position in wood processing and wood construction.
“I have always been impressed by Martinsons’ forward thinking and its ability to develop and I see several advantages with the acquisition of Martinsons,” said Holmen’s head of forest Sören Petersson.
“We can refine our own raw material in the north, strengthen our position in the wood market and create a platform for continued industrial development.
At the same time, we acquire knowledge and leadership in advanced wood construction, which strengthens our brand.
“Based on Holmen's large forest holdings, and the solid knowledge and experience that exists in both Holmen and Martinsons, we look forward to continuing to develop the business and contribute to increased wood construction, which is an important part of the solution to the climate challenge,” added Mr Padel.