Bergs Timber AB in Sweden has signed a letter with Bergs Timber’s principal owner, Icelandic Norvik hf for the acquisition of a number of companies within Norvik Timber Industries with operations in Latvia, Estonia and the United Kingdom.
“With the planned transaction, our product offering is increased significantly. We will cooprate in different ways in the new planned group to further improve the profitability and the service to the market. At the same time, the business will continue to operate with a strong decentralized responsibility under existing brands,” says Peter Nilsson, CEO of Bergs Timber.
A completed acquisition will increase Bergs Timber’s product processing and is thus intended to limit Bergs Timber’s sensitivity to fluctuations in the economic cycle. At the same time, Bergs Timber assesses that there is potential for synergies within areas such as raw material procurement, distribution and sales.