With the goal of further strengthening its own market position in Asia, the Egger Group acquired a 25.1% stake in the Thai wood-based material manufacturer Panel Plus Co., Ltd. The parties have agreed not to disclose the purchase price and further details of the transaction.
Panel Plus Co., Ltd. was founded in 1990 and today produces a wide range of wood-based materials such as chipboard and MDF boards, both laminated and unlaminated. The main production plant is located in Hat Yai in the southern Thai province of Songkhla.
Thailand, Malaysia and Vietnam are the core markets of Panel Plus. The core target groups are the local furniture industry and distributors.
The stake in Panel Plus now gives Egger the opportunity to broaden its own market access, address additional customer target groups and further expand availability and service for them.
Image: Thai Panel Plus
