{"id":75104,"date":"2018-02-05T12:13:29","date_gmt":"2018-02-05T12:13:29","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/bergs-timber-plans-to-acquire-norvik-timber-industries\/"},"modified":"2025-09-19T08:47:22","modified_gmt":"2025-09-19T08:47:22","slug":"bergs-timber-plans-to-acquire-norvik-timber-industries","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/bergs-timber-plans-to-acquire-norvik-timber-industries\/","title":{"rendered":"Bergs Timber plans to acquire Norvik Timber Industries"},"content":{"rendered":"

Bergs Timber AB has signed a letter of intent on the 22nd<\/sup>\u00a0of January with Bergs Timber\u2019s main owner, Icelandic Norvik, for the acquisition of a number of companies within Norvik Timber Industries with operations in Latvia, Estonia and the United Kingdom.<\/em><\/p>\n

Thus, Bergs Timber intends to acquire Norvik Timber Industries\u2019 operations in Latvia, Estonia and the UK. The respective companies have generated net sales of approximately SEK 1,613 million and a profit after tax amounting to SEK 78 million during financial year 2016\/2017.<\/p>\n

The payment will be made with 170 million newly issued shares in Bergs Timber, as well as a cash payment of SEK 270 million. Moreover, the company assesses that this acquisition will increase Bergs Timber\u2019s earnings per share, along with opening new possibilities for synergies within areas such as raw material procurement, distribution and sales.<\/p>\n

Norvik, Bergs Timber\u2019s largest shareholder, owns the companies, along with 29.52% of the shares and votes in Bergs Timber. Once with this acquisition, Norvik is expected to reach a holding of 64.68% in Bergs Timber.<\/p>\n

\u00a0\u201cSince the sale of Broakulla to Bergs Timber we have been a large shareholder in the company. We are confident that this transaction is the right way to further develop our companies, not least due to our and Bergs Timber\u2019s management\u2019s shared view of the importance of decentralized responsibility and the use of current existing brands\u201d,\u00a0<\/em>says Jon Helgi Gudmundsson, Chairman of the board of Norvik hf.<\/p>\n

\u201cWe are pleased with the opportunity to acquire NTI which is a well-managed company with good profitability and great potential for development. A broadened and more large-scaled business enables economies of scale and synergies that lead to increased competitiveness and long-term profitability\u201d,\u00a0<\/em>says Lars Gustafsson, Chairman of the board of Bergs Timber.<\/p>\n

The companies to be bought operate within three areas: production of sawn timber products, wood processing as well as port- and distribution operations. The production of sawn timber products takes place at a modern, larger plant in Latvia (Vika Wood) with an annual output of 270,000 m3 and at two smaller plants in Estonia with a total output of 120,000 m3.<\/p>\n

The wood processing business (Byko-Lat) is located in two regions in Latvia where production of planed products for construction purposes, windows and doors, modular houses as well as joinery products for gardening purposes takes place. Most of Byko-Lat\u2019s raw material procurement is from the two Estonian sawmills as well as from two Russian sawmills operated within a part of Norvik Timber Industries which is not subject to the intended acquisition. Byko-Lat\u2019s products are sold to a large extent to Western European markets, including the Baltics.<\/p>\n

The port business (Norvik Shipping) is located east of London and includes handling of forest industry products, steel and other goods. The business also includes the operation of a ship. Within its own port area NTI also operates a distribution business (Continental Wood Product or CWP) for the import and sales of sawn timber products and processed products in the English market.<\/p>\n

Synergies also exist within the distribution area. The sawmill Vika is well established on the large Japanese market, which also may give rise to further sales opportunities for Bergs Timber\u2019s Swedish products. Similarly, conditions exist for Bergs Timber to more clearly introduce Byko-Lat\u2019s products on the Swedish construction retail market. Not only within sales, but also logistics synergies and opportunities exist within the European supply chains of the group.<\/p>","protected":false},"excerpt":{"rendered":"

Bergs Timber AB has signed a letter of intent on the 22nd\u00a0of January with Bergs Timber\u2019s main owner, Icelandic Norvik, for the acquisition of a number of companies within Norvik Timber Industries with operations in Latvia, Estonia and the United … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":58155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713],"tags":[3629,3600],"class_list":["post-75104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","tag-bergs-timber","tag-norvik-timber","topic-forestry","topic-sawmilling","area-europe"],"acf":[],"yoast_head":"\nBergs Timber buys Norvik Timber Industries - TIN<\/title>\n<meta name=\"description\" content=\"Bergs Timber signed a letter of intent with Icelandic Norvik, for the acquisition of a number of companies within Norvik Timber Industries.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/bergs-timber-plans-to-acquire-norvik-timber-industries\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bergs Timber buys Norvik Timber Industries - 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