Setra’s owners, Sveaskog AB and Mellanskog, have made an announcement regarding the sale of Sveaskog’s stake in Setra Group AB to Mellanskog.
The ownership change is planned to be executed during the first quarter of 2025. The announcement was made shortly before Christmas.
“That Setra gets a clear majority owner with industrial ownership as an important part of its long-term strategy is very positive,” said Setra’s CEO Marcus Westdahl.
“It creates good conditions for us to grow and develop. The ownership change does not entail any operational change in Setra as the company will continue to be run as an independent industrial company.”
The limited company Setra Group is 50% owned by Sveaskog and 49.5% by the forest owners’ association Mellanskog. The remaining 0.5% is owned by approximately 1,400 smaller shareholders. The sale means that Mellanskog acquires Sveaskog’s total stake in Setra Group.
Setra Group is one of Sweden’s largest wood industry companies, with production facilities processing sawn and planed wood products, glulam, CLT, and components for construction and housing.
Sveaskog is Sweden’s largest forest owner with 14% percent of Sweden’s forest land. The company is owned by the Swedish state and is an independent player without its own major interests as an end-user of forest raw materials. The ownership change is in line with Sveaskog’s strategy to be a responsible forest owner and a previous parliamentary decision from 2009.
“As an owner, it is our task to create optimal conditions for the company’s future as a competitive and profitable company,” said Sveaskog’s CEO Erik Brandsma.
“I am therefore pleased that we have now reached an agreement with Mellanskog for them to take over our shareholding. Through the deal, the company can develop and create long-term value for its owners. We have proudly been an owner in Setra, and I look forward to continued good cooperation.”
Mellanskog is a forest owners’ association with an operational area from Gotland in the south to Härjedalen in the north and is owned by approximately 28,200 members. The association’s main task is to create as much value as possible for the association’s members.
“Mellanskog believes in wood as a material and looks forward to continuing to develop Setra as one of Sweden’s largest wood industry companies,” said Mellanskog’s CEO Fredrik Munter.
The group also includes the subsidiaries Setra Trävaror and the operations in England, Setra Wood Products
Setra has approximately 860 employees and a turnover of approximately SEK5.5bn.
About 70% of the turnover consists of exports to Europe, North America, Asia, North Africa, and the Middle East.
