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TOIVAKKA TIMBER, AN ANAIKA WOOD SUBSIDIARY, HAS ACQUIRED THE BUSINESS OF TOIVAKAN PUUTUOTE OY

01.04.2017

Toivakka Timber Ltd Oy and Toivakan Puutuote Oy have signed an agreement of the purchase of a further processing plant located in Toivakka, Finland. The processing plant in Toivakka produces planed timber that is primarily exported to Japan. The total annual capacity of the processing plant is 50,000 m3 and it uses spruce as its raw material. The entire staff of the plant, 7 employees and clerical workers, will transfer to Toivakka Timber under their existing employment contracts.

The Toivakka further processing plant will operate under Toivakka Timber Ltd beginning on 1 April 2017.

According to Markku Maukonen, the CEO of Anaika Wood Group Ltd Oy, the transaction will strengthen the company’s further processing capacity.

“This deal enables developing the Toivakka Timber sawmill and increasing its production capacity for processed wood. Japan will remain Toivakka Timber’s main market.

Anaika will step up production in its glulam beam plant in Kiihtelysvaara, Joensuu, and the sawmills in Lieksa and Soinlahti, Iisalmi. The company will also take further measures to develop sawing and planing at the Toivakka sawmill.

Inquiries:

Markku Maukonen, CEO, Anaika Wood Group, tel. +358 400 190062

www.anaika.com

www.binderholz.com

Anaika Wood Group Ltd is a Finnish wood processing company, which produces a total of around 350,000 m3 of sawn timber (planed timber and glulam beams) each year. The company’s key export markets are Japan and other Asian countries. Around 90% of the production is exported.

The company’s annual turnover is around EUR 75 million and the company employs around 160 people.