Jun 17, 2011. /Lesprom Network/. Setra is selling its Kvarnasen processing unit in Norsjo municipality, Sweden. The buyer is Kvarnasen Tra AB, a company which is in the process of being formed and which intends to run a specialised moulding production and sales operation in the Scandinavian market, as the company said in a press release received by Lesprom Network. Setra's Board of Directors took the decision to wind up the Kvarnasen processing unit in autumn 2010. The intention was to sell the unit if possible and if not, to shut it down. Production at the plant has been at a standstill since mid-March. “We are very happy that Kvarnasen now has a new owner that can focus fully on continuing to develop production and sales of high-quality mouldings,” says Borje Bengtsson, President and CEO of Setra. “This is good for the district and will also lead to job opportunities in the future.” The buyer is Kvarnasen Tra, a company that is being formed and has three owners: Kvarnasen Intressenter AB and two regional venture capital companies, Ackra Invest AB and Partnerinvest Norr AB. The CEO of the new company is Britt-Inger Marklund, former site manager at Kvarnasen with many years of experience, including as CFO for various industrial enterprises. “Kvarnasen is a first-rate plant in which Setra has invested considerably. We are convinced that a specialised moulding business can be developed in a profitable way,” says Britt-Inger Marklund. “The moulding paint shop is one of Sweden’s most modern facilities and maintains a high environmental standard.” “As investors in this venture, we are very familiar with the operation and know that the employees have a high level of expertise,” says Britt-Inger Marklund. “The location in northern Sweden gives us access to mature pine – a high-quality raw material which is extremely important in the production of mouldings.”