Binderholz Group has agreed the acquisition of the entire share capital of leading Finnish sawmiller Kuhmo Oy.
The transaction, subject to approval by the relevant competition authorities, would see Binder take on ownership of the 500,000m3 sawn timber capacity Kuhmo mill, as well as Juntinsalo Oy which serves as the real estate company of the Kuhmo Group. The purchase would be made by Binder Beteiligungs AG, a company belonging to the Binderholz Group,
Kuhmo processes over 1 million solid cubic meters of roundwood annually, with 80% of sawn timber produced being pine and 20% spruce. The sawmill generates annual revenue of approximately €150m and employs 180 people.
Binder says the objective of the transaction is to strengthen the long-term competitiveness of Kuhmo’s sawmill operations. The parties see significant opportunities in production development, expansion of export markets, and the utilization of new wood-based products and solutions.
“As a result of this transaction, the future of Kuhmo Oy looks stronger than ever,” said Tommi Ruha, Managing Director of Kuhmo Oy.
“With the new owner, the company will be better positioned to grow, invest, and strengthen its position in international markets.”
“The acquisition of Kuhmo Oy and Juntinsalo Oy will strengthen Binder’s footprint in the world’s best growing area for coniferous and is a clear commitment to our Finnish operations,” said Reinhard Binder, Chairman of the Binderholz group of companies.
“Kuhmo Oy – together with our existing sites in Lieksa and Nurmes – secures our demand for high-quality timber from our further processing units and further broadens Binder’s product offering and service to customers.”
The transaction will not result in any changes to employment relationships and is expected to strengthen the position of the entire Kainuu forest bioeconomy sector and enhance the region’s international visibility as a hub for the wood processing industry.
