Kronospan Expands Global Portfolio with Acquisition of ZF Timber Sebes Factory
Kronospan, a leading global wood processing company, has announced a significant expansion of its product portfolio. The company, already established in Romania, has taken over the ZF Timber Sebes wood processing factory from insolvent German Ziegler Holding. This acquisition will see Kronospan incorporate sawn wood products into its existing range of wood-based panels.
The Sebes factory, employing around 500 people, will continue its operations under Kronospan's management. Its products will remain available locally and in the 75 other countries it currently serves. The factory reported revenues of RON 500 million (EUR 100 million) and losses of RON 57 million (EUR 12 million) in 2023. Notably, the insolvency of Ziegler Holding did not directly impact the Sebes factory's operations.
The acquisition by Kronospan marks a strategic move to diversify its product offerings. By incorporating sawn wood products into its global entry portfolio, the company aims to strengthen its position in the wood processing industry.
With the takeover of the ZF Timber Sebes factory, Kronospan expands its product range to include lumber, complementing its existing production of wood-based panels. The factory's continued operations and global distribution network ensure business continuity, while the acquisition signals Kronospan's commitment to growth and diversification in the wood processing sector.
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