The Moelven Group is to acquire Sweden’s largest plywood manufacturer Vänerply.
Otterbäcken-based Vänerply produces plywood from spruce and pine, with an annual capacity of 90,000m³ and sales revenue of SKr299m.
“We are acquiring Vänerply to become an even better supplier and collaboration partner for our customers,” said Mikael Axelsson, CEO of Moelven Wood AB.
“Vänerply is a strong brand, its products are good and geographically it is favourably placed for Moelven’s existing distribution concept for wood-based products for trade and industry.”
Moelven’s turnover from plywood operations in the Swedish market is about SKr140m, with business growing.
“The acquisition of Vänerply means that an important product for Moelven in terms of volume can now be partially produced in-house,” added Mr Axelsson.
“However, I would also like to stress that we will be continuing to serve the market with materials purchased from others, in exactly the same way as we have done up until now,” he said.
“We are acquiring Vänerply to operate our business with foresight and profitability. We do not intend to substantially increase the volume produced with Vänerply, but will still develop the company’s competitiveness through efficiency improvements.”
No takeover date has been confirmed but an application has been submitted to the Norwegian competition authorities.
