The contract was signed in April, the deal is expected to be concluded by mid-2023 and is subject to usual regulatory approval. The value of the deal was not revealed.
HS Timber is the largest greenfield investor in Romania’s wood industry. It opened its first sawmill in Romania in 2003, has grown to three sawmills, a post & beams production facility and a blockboard factory ever since.
Sebes-based HS Timber Productions posted RON3.1 billion revenue in 2021, compared with RON2.4 billion in 2020, as well as RON624 million profit compared with RON339 million, Finance Ministry data show. In all, it had 1,575 employees in 2021 and the 2022 data are not available.
Law firms bpv Grigorescu Stefanica and bpv Huegel (Austria) assisted Ziegler Group in its acquisition of HS Timber Productions Sebes SRL.
(English version by Loredana Fratila-Cristescu)