Södra is buying one of Sweden’s largest manufacturers of timber houses.
The group has signed a memorandum of agreement regarding the purchase of 100% of Trivselhus AB’s shares from owner Ittur Prefab Industrier AB.
“Trivselhus is a fine company and a strong brand name,” said Leif Brodén, president and CEO of Södra. “We are delighted to have the opportunity to own and continue developing this fine company.”
Trivselhus chairman Johan Hansen said Södra gave Trivselhus the financial strength it needed to sustain it through turbulent times.
The acquisition, which requires approval of Swedish and Norwegian competition authorities, is expected to go ahead in the third quarter of 2009.
