Austrian wood processing company Holzindustrie Schweighofer,controlled by businessman Gerald Schweighofer, took over FinnforestBaco Production in Bacau, with 20 million-euro turnover, fromFinnish group Metsaliitto Cooperative. This is the secondtransaction in 12 months sealed by the Austrians on the Romanianmarket. In December 2008 they acquired the former IKEA plant inSiret. The value of the transaction was not made public, but,according to estimates made by consultants, it amounted to lessthan 10 million euros. "The acquisition of Finnforest Baco comes tosupplement our operations. Our goal is to expand our product rangeand improve the processing. This is a step towards new foreignmarkets," Gerald Schweighofer said. Holzindustrie Schweighoferholds four production facilities on the Romanian market - twotimber plants (one in Sebes and one in Radauti), the solid woodpanel plant in Siret and a new facility in Bacau.
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