Austrian businessman Gerald Schweighofer, owner of several woodprocessing plants in Romania, with turnover put at more than 250meuros this year, says he plans no further acquisitions on thedomestic market, after taking over two companies in one year, onein Siret (Suceava) and the other in Comanesti (Bacau).
"(...) We will make no further investments until the politicalcrisis is over," said Gerald Schweighofer, in an interview withZF.
The most recent acquisition is the takeover of the entire stakeof Finnforest Baco Production from Wood Product Industry, the woodprocessing unit of Metsaliitto Cooperative Finnish group. The valueof the deal was not disclosed, but, according to some consultantsasked by ZF, a sum of below 10m euros was involved. The firstacquisition was sealed last December, but was concluded in 2009.The Austrians took over the former IKEA plant of Siret. Bothacquired plants were among Holzindustrie Schweighofer'sclients.
The deal is pending Competition Council approval and the newcompany will be named Holzindustrie Schweighofer Baco.
Finnforest's production is largely exported mainly to Germany,Italy, France, and Greece. Schweighofer has not disclosed the valueof the deal involving IKEA, either.
The Austrian has so far invested around 250-300m eurosdomestically and owns, besides the two acquisitions, woodprocessing units in Sebes and Radauti, 11,000 hectares of forestsin several Romanian counties, a 100-room hotel in Radauti andseveral renewable energy investments. The group, also including anagricultural farm in Botosani, currently has 1,450 employees, andis set to reach 2,000 with the integration of Finnforest.
Gerald Schweighofer also owns 50 hectares of land in Radauti and20 hectares in Bacau through the plants.
The plants of Romania will reach 250-300m euro turnover thisyear, up from 2008. This year's growth will primarily come fromboosting the company's production capacity.
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