Finnforest to sell the Keuruu business operations of Tiwi to Puhos Board
06/03/2006
Finnforest Corporation and Puhos Board Oy have signed an agreement by which Finnforest will sell all of the business operations of Tiwi at Keuruu to Puhos Board. The personnel of Tiwi will transfer to Puhos Board as continuing employees.
“The implemented arrangement furthers Finnforest's focus on its core business operations. Tiwi's chipboard production complements well the existing production of Puhos Board, and this in turn contributes to the development opportunities of the Finnish chipboard industry”, summarises
Kim Poulsen, Head of Finnforest's Panel Products Industry.
Tiwi's chipboard production amounts to 80,000 m3, employing 87 people. The turnover of the unit is EUR 21 million. The arrangement clarifies Finnforest's position as part of Metsäliitto Group that focuses on the group's core business operations in the wood products industry.
Puhos Board Oy is the leading chipboard manufacturer in Finland, with Isku-Yhtymä Oy as its largest owner. The turnover of Puhos Board is EUR 74 million, with production amounting to approximately 270,000 m3.
Further information
Kim Poulsen, Vice President, Panel Products, Finnforest, tel. +358 50 387 2063
Anne-Mari Achrén, Communications Manager, Metsäliitto Group, tel. +358 50 59 888 64