The company was acquired by the Metsaliitto subsidiary Finnforest in 2001 and is one of the leading suppliers of wood-based building products and services in Scandinavia.
It is being sold to Eidsiva Energi and five Norwegian forest owners’ associations for €140m, which will net Metsaliitto €13m on the deal, the company said. Moelven employs 3,200 people and has a turnover of more than €700m.
Metsaliitto said it had refocused its strategy to concentrate on developing products in selected markets based on Nordic timber supplied mainly by its own Finnish forest owners.
