Jan 19, 2011. /Lesprom Network/. Setra is selling its Norwegian subsidiary Setra Barkevik AS. The buyer is Mølen AS, where Barkevik’s present CEO Eivind Funnemark is principal owner, as the company said in a press release received by Lesprom Network. Barkevik is one of Norway’s leading manufacturers of pine and oak mouldings. The company, which offers its products to the building materials trade and industrial customers, has some 45 employees. Production is carried out at two units, in Helgeroa outside Larvik and in Skien. "The sale of our Norwegian subsidiary Barkevik is in line with our aim to streamline the business and concentrate production geographically to Setra’s core area in central Sweden," says Börje Bengtsson, President and CEO of Setra. "We are one of Norway’s most modern manufacturers of mouldings and we now look forward to developing the business further. Setra has been supplying high quality pine moulding products to Barkevik for 20 years and we look forward to continued good co-operation," comments Barkevik’s CEO Eivind Funnemark. Barkevik will continue to represent Setra as a contract partner for construction wood in the Norwegian building materials trade. Setra acquired Barkevik in 2008 from Mølen AS, which is now buying back the company. Barkevik has annual sales of approximately SEK 225 million ($34 million), approximately half of which comprise sales from Setra’s Swedish units in the Norwegian market.