Mar 07, 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.
Finnforest to sell the Keuruu business operations of Tiwi to Puhos Board
Mar 07, 2006. /Lesprom Network/. 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 cubic meters, employing 87 people. The turnover of the unit is Euro 21 million. The arrangement clarifies Finnforest's position as part of Metsдliitto 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-Yhtymд Oy as its largest owner. The turnover of Puhos Board is Euro 74 million, with production amounting to approximately 270 000 cubic meters.
