The Schweighofer Group quits its Romanian forest investments and sells its wholly-owned subsidiary Cascade Empire s.r.l. as well as its forest management unit Ocol Silvic Cascade Empire s.r.l. to the Swedish company GreenGold Group. The contracting parties agreed not to disclose the purchase price and the contract details.
Cascade Empire acquired the forests in the period between 2003 and 2011 and today employs 19 people, including the staff of the forest management unit – all employees will be taken over by the new owner.
Cascade Empire’s forest areas amount to 14,283 hectares located in the Romanian regions of Hunedoara, Gorj, Valcea, Prahova, Buzau, Neamt and Suceava.
Holzindustrie Schweighofer, one of Europe’s leading wood processing companies, operates three sawmills and two panel factories, employs around 3,100 people.
