Sonae Indústria has agreed a €60m deal to buy the assets of the Hornitex Group in Germany.
If the European Competition Authorities give the acquisition the go-ahead, Sonae will buy the assets of two production plants, Horn and Duisburg, and 100% of the shares of the company that owns a third plant, Beeskow.
This will increase Sonae Indústria’s wood panel production capacity in Germany by around 1.5 million m3 to almost 3.5 million m3, and its global wood panel production capacity to more than 9 million m3.
Sonae Indústria chief executive officer Carlos Bianchi de Aguiar said the acquisition would secure the long-term competitiveness of the company’s central European wood-based manufacturing acitivites.
