. The business unit Ilim Timber Europe has been set up on the basis of the acquired assets, and the mills have been renamed to Ilim Nordic Timber and Ilim Timber Bavaria.
Ilim Timber has closed deal on acquisition of Klausner Nordic Timber and Klausner Holz Bayern sawmills
Aug 24, 2010. /Lesprom Network/. Ilim Timber has acquired production assets of Klausner Group ( Klausner Nordic Timber and Klausner Holz Bayern ) and the new sawmill line (Linck), company said in a statement received by Lesprom Network. Brand new equipment will be installed within the frame of modernization of the plant in Ust'-Ilimsk. The amount of the transaction exceeded Euro 100 million. Sberbank and Transcredit Bank took part in financing of the transaction. Investment banking service has been provided by Latum Investment Banking Services.
The business unit Ilim Timber Europe has been set up on the basis of the acquired assets, and the mills have been renamed to Ilim Nordic Timber and Ilim Timber Bavaria. Alexander Buevich was appointed as Ilim Timber Europe CEO, Fabrice Duvey – as CFO. Carsten Doehring (formerly Klausner) becomes the Chief Operating Officer. Wolfram Lumper (formerly Klausner) and Matthias Wittkemper will be responsible for Sales and Log Procurement respectively; Christoph Zöchling and Hauke Jungjohann will continue as plant managers for Wismar and Landsberg.
Ilim Timber and Klausner have entered into an agreement on cooperation in the transitional period which lasts till the end of 2010 and is connected with outsourcing of a number of services and execution of long-term contracts.
“The friendly nature of this transaction allows us to enter the European market organically and keep up the competitive advantages for which the enterprises of Klausner Group are famous. We consider the high-skilled personnel and management, who have become a part of our international team, as the most important asset”, says Mikhail Kokorich, Ilim Timber CEO.
