Canadian panels manufacturer Norbord Inc has completed the acquisition of Agglo‘s Belgian OSB and chipboard mill for €50m, making the company the second biggest OSB producer in Europe.
The Agglo plant in Genk, which increases Norbord’s European market share to 20%, will be integrated with the company’s existing business in the UK. It will boost Norbord’s annual European sales by 35% and help expand its customer base in the Benelux countries, Germany and Scandinavia.
The mill, which produces 230,000m3of OSB and 300,000m3 of chipboard annually, will undergo a €13m investment to improve site efficiencies and implement environmental improvements.
