Austrian timber company Mayr-Melnhof Group says it will become one of the leading operators in the European sawmill industry with a turnover of more than €600m through its takeover of the Stallinger/Kaufmann Group.
May-Melnhof is currently waiting for competition authority approval of the deal, which it says will strengthen the company’s position on the Central European market and boost its activities in eastern Europe, especially on the Russian market.
The deal also includes the acquisition of a qualified minority interest of Stallinger Swiss Timber AG.
“We are pleased to be able to intensify our core business activities by the take-over of an outstanding local timber processing company and to expand the number of our locations in this area,” said Josef Dringel, Mayr-Melnhof’s chief financial officer.
For more details, see TTJ 26 April/3 May.
