Aug 24, 2006. /Lesprom Network/. Metsäliitto Group has commenced the process of selling its Norwegian subsidiary Moelven Industrier ASA. Moelven is one of the leading suppliers of building products and accompanying services in Scandinavia. The company, which was acquired in 2001 by Metsäliitto’s subsidiary Finnforest, has some 3 200 employees and turnover of over Euro 700 million. “Moelven has become a highly successful company with a lot of further growth potential in Scandinavia. Metsäliitto’s wood products industry has, however, refocused its strategy and will now concentrate on its core activity which mainly is to process and add value to the wood procured from Metsäliitto’s 131 000 owners. We have evaluated Moelven against the new strategy and concluded that this is the right time to let a new owner develop Moelven further,” says Ole Salvén, group executive vice president, director of Metsäliitto wood products industry. Moelven produced solid figures during the first half of 2006. Revenues totalled over Euro 400 million and the operating profit was Euro 17.5 million. Moelven is currently one of Scandinavia’s leading and most diversified wood-working companies. Metsäliitto Group owns 65.2% of Moelven’s shares and 34.6% of shares is owned by four Norwegian forest owners’ associations. Metsäliitto will work together with the forest owners’ associations to find the best outcome for all owners.