Austrian company’s acquisition of Vapo’s sawmills is among the biggest investments in the North Karelia region during this millennium.
Finnish acquisition brings growth and opens new international markets
Binderholz Group is one of Europe’s largest manufacturers of solid wood products. In January 2016, it acquired the entire share capital of the Finnish sawmill company Vapo Timber Oy, taking over its two sawmills located in Lieksa and Nurmes in Eastern Finland. The sawmills employ 147 people and have a combined annual production capacity of approximately 450,000 cubic metres of sawn spruce and pine. The Finnish sawmills now operate under the name Binderholz Nordic and act as the group’s Nordic headquarters.
The acquisition boosts the turnover of the Binderholz Group by around EUR 100 million to a total of EUR 500 million in 2016. According to Binderholz, it will expand the cutting capacity of the sawmills from the current level of 1.75 million to 2.55 million cubic metres per year, which will create 40-80 new jobs over the next few years.
“The acquisition is of great importance for Binderholz. It opens up new dimensions in terms of the quality of our machined products and enables us to enter new markets and reach new milestones,” says company owner Hans Binder.