Finnish thermowood leader Lunawood has acquired the entire ThermoWood business of Metsä Wood, located in Kaskinen.
The acqusition will increase Lunawood’s annual capacity in thermowood production from 81,000 m³ to 105,000 m³. The combined annual turnover of Oy Lunawood Ltd and Metsä Wood ThermoWood business will be around 40 million euros in 2016.
The business purchase will see Lunawood strengthening its position as a global market leader and forerunner in ecological thermowood solutions.
“With the purchase of the Kaskinen ThermoWood business we can guarantee the continuation of our strategic growth in the future,” said Chief Executive Officer Arto Halonen of Lunawood. “We are able to provide our customers with an even more comprehensive range of high quality thermowood products. We will also improve the level of customer service thanks to the growth in our capacity. In accordance with our company strategy we will continue to develop and grow the business by investing in Kaskinen, where we plan to double the production capacity in the next five years,” continued Halonen.
All employees of Metsä Wood will join Lunawood as established employees.
“We are aiming to identify and utilize synergies in for example raw material sourcing, subcontracting and our customer segments on the markets,” explained Halonen. “The sales organization in the export markets will be strengthened due to this acquisition. In the future the company will be led from the Lahti office. The positive effects of this acquisition will become visible for our personnel and our customer already during 2016,” emphasizes Halonen.