Steico Ltd has today announced the acquisition of flooring panel supplier Puhoswood Ltd for an undisclosed sum.
Steico said the acquisition would create a one-stop shop for wood products and natural insulation in the residential, commercial and industrial building sectors.
The move will aid Steico’s ambition to become the largest I-joist supplier to the UK market by 2012. Current projections show a 15% increase in market share for the current year “which will help this process and accelerate opportunities for future growth and profitability”, said Steico.
Puhoswood Ltd, the wholly-owned UK subsidiary of Puhos Board Oy, supplies flooring deck products such as Weather Dek2 and Sprucefloor, which Steico sees as complementing its I-joists, wall studs and LVL (laminated veneer lumber), together with natural wood fibre and hemp based insulation.
Steico appointed Puhoswood as its exclusive wholesaler a year ago. It now sees the integration of the Puhoswood business into Steico as a natural progression of this relationship.
