The UK-based company distributing densified New Zealand pine has secured major new equity investment and rebranded its range as the first stage of a new marketing push.
The radiata pine, which is densified by cellulose impregnation, was initially marketed in the UK as NuWood. In September, it was revealed that NuWood was merging with ESH technologies, the business that owned the rights to the ‘indurite’ densifying process. Now a new holding company, Indurite plc, has been launched with subsidiaries to market and distribute the timber in the UK, Europe and the US. The business has been backed with “between £1-2m” of private equity from an unnamed investor.
Bruce Matheson, formerly of NuWood and now Indurite plc, said the Watford-based company planned to develop new end uses of the densified timber and to license companies in the UK and elsewhere to use the densification process. In the meantime, the NuWood flooring range has been rebranded “MaroWood” (maro means hard in Maori).
The company has also recruited Paul Duncan as global marketing director.
