The acquisition of leading cross-laminated timber (CLT) construction firm KLH Massivholz by Austrian sawmilling and garden tools business the Johann Offner Group will enable future expansion of the KLH brand.
Johann Offner Group said the long-term future of the KLH factory in Katsch/Mur and its employees should be guaranteed by the move, which sees the group acquire 74.9% of KLH, which has annual sales of €58m and is the recognised market leader in cross-laminated timber construction.
KLH CEO Christian Loimayr will continue to lead the management and retains 25.1% ownership. Other shareholders Heimo de Monte, Herwig Lercher and Wolfgang Weirer have retired from the company.
Johann Offner Group chairman Hans Michael Offner called the deal an important extension of the company’s value chain in the wood sector.
“For us a shareholding in KLH is an investment in a huge growth market, with KLH’s plans for overseas expansion already at an advanced stage,” he said.
“KLH is the leader of the cross-laminated wood processing industry and internationally; the world connects cross-laminated timber with the name KLH.”
Last year KLH built its first office building in Canada and it is currently building the world’s first 10-floor solid wood building.
“Cross-laminated timber as a modern method of construction has tremendous growth potential in the construction market,” added Mr Loimayr.
“The merger with the Johann Offner Group, a strong strategic partner in the timber industry, is a judicious investment in realising the company’s long-term expansion plans and the development of innovative solutions in cross-laminated timber production and technology.”
Offner has an annual turnover of €135m. It is the largest producer of garden forks in the western hemisphere, as well as running one of Austria’s largest sawmills in Wolfsberg with an 800,000m³ roundwood capacity.
