Mar 18, 2014. /Lesprom Network/. Sonae Indústria, SGPS, SA announces that its indirect affiliate, Isoroy SAS, has accepted the offer made by Kronospan for the acquisition of the businesses and assets relating to its Auxerre and Le Creusot plants located in France, including the transfer of the employees dedicated to those businesses. To this end, Sonae Indústria’s indirect affiliate, Isoroy SAS, has entered into a corresponding Business Sale Agreement, as the company said in the press release received by Lesprom Network.

The completion of the transaction is subject to certain conditions precedent, mainly related with pre-emption rights of the local municipalities in respect of the real estate, and is expected to take place by the end of March 2014.

The decision of selling the businesses and assets of the Auxerre and Le Creusot plants is aligned with Sonae Indústria’s strategy to focus on its best performing assets.

Sonae Indústria is one of the largest wood based panels producers in the world. The product range includes: particleboard; MDF (Medium Density Fibreboard); hardboard; OSB (Oriented Strand Board).