The joint venture, originally announced last November, is now expected to start operating in October.
Both companies already sell laminate flooring but the new partnership is designed to capitalise on Sonae’s expertise in the panels industry and Tarkett’s experience within the flooring industry.
Sonae said the joint venture will integrate the two companies’ strengths and develop maximim synergies, as well as control the whole value chain from production to end user sale.
A Sonae panel production plant in Eiweiler, Germany has been expanded to produce laminate flooring. The new manufacturing company is called Eiweiler Industries GmbH, while a sales and distribution operation, Tarket Sonae Laminate, has been created in Luxembourg to handle storage, marketing and sales of the products.
Laminate flooring will be sold in western Europe, Africa, Asia and Oceania.
Sonae and Tarkett each hold 50% interest in the joint venture.