Stora Enso buys Lamco shares1 September 2005
Stora Enso Timber is to take 100% ownership of Austrian glulam producer Lamco GmbH after agreeing to buy the remaining 49% of the company.
Meiken Co Ltd of Japan will sell its minority stake in Lamco, which produces 100,000m3 of structural glulam beams for the Japanese market.
The deal will be complete by October 1, with Lamco ceasing as a company name and product mark.
Meiken will operate as a commission-based sales channel for the mill in Japan, while products will be marketed under the Stora Enso brand. Stora Enso will gradually take over marketing and sales.
The Lamco mill uses redwood lamellas and is situated next to Stora Enso's Sollenau sawmill near Vienna.
Peter Kickinger, executive vice-president of Stora Enso Timber, said: "Our product portfolio and service to Japanese customers will develop further. We have invested in post and beam mills serving the market in Ybbs, Austria and just recently in Imavere, Estonia."