Crown Timber has announced that it will be renamed as Södra Wood Ltd.
Swedish forest industry group Södra acquired Crown Timber in March last year and the integration of the companies has proceeded at a quick pace since then, culminating with the name change as of January 1.
The UK is our principal export market,” said Jörgen Lindquist, business area president of Södra Wood.
“This acquisition gives us valuable control over the entire supply chain – from production to end users – and provides potential for growth,” he said.
The remaining shares were acquired by Södra last March, having previously held approximately 20% of the shares in the company.
Lindquist said Crown Timber had supplied high-quality construction timber to the UK and Irish building materials trade and manufacturing industry since 1983.
For some time, Södra has been one of the company’s key suppliers and, in its capacity as a part owner, helped Crown to grow and reach the market-leading position the company holds today. Hence, it was a natural step for Södra to assume total ownership of the company.
“We are securing a similar structure in the UK and Ireland as we apply in several of our other markets, giving us control of the entire chain, from production to customer.
“A fully integrated supply chain will enhance service to customers and we can create unique cooperation between the Swedish forests and the UK and Irish construction markets,” he said.
The name change will also apply to the sawmill in Hamina, Finland, which was included as part of Södra’s acquisition of Crown Timber. It will now be known as Södra Wood Oy.
Södra already has sales offices in China, Germany, the Netherlands, the US, Norway and Denmark.
Meanwhile, Södra’s exports of sawn timber to Poland have increased 150% in 2016. Although Poland is not an entirely new market for Södra, it has grown rapidly in recent years.
Source: Timber Trade Journal