Binderholz to Acquire Kuhmo and Juntinsalo

On Friday, the shareholders of Finnish sawmill operator Kuhmo Oy and real estate company Juntinsalo Oy agreed to sell the companies’ entire share capital to BINDER BETEILIGUNGS AG, part of Austria’s binderholz Group. Completion remains subject to approval by the relevant competition authorities.

Juntinsalo serves as the real estate company of the Kuhmo Group. Kuhmo processes more than 1 million m³ of roundwood annually and produces approximately 500,000 m³ of sawn lumber, consisting of 80% pine and 20% spruce. The sawmill generates annual revenue of approximately €150 million and employs 180 people.

The companies said the transaction is intended to strengthen Kuhmo’s long-term competitiveness, support production development, expand export markets, and advance new wood-based products and solutions. Binderholz said the acquisition will also strengthen its position as a major sawn timber producer and supplier of solid wood products.

The transaction is not expected to change existing employment relationships. Kuhmo employees will transfer to the new owner under their current terms.

Kuhmo Oy Managing Director Tommi Ruha said:

“As a result of this transaction, the future of Kuhmo Oy looks stronger than ever. With the new owner, the company will be better positioned to grow, invest, and strengthen its position in international markets.”

Binderholz Group Chairman Reinhard Binder added:

“The acquisition of Kuhmo Oy and Juntinsalo Oy will strengthen Binder’s footprint in the world’s best growing area for coniferous and is a clear commitment to our Finnish operations. Kuhmo Oy—together with our existing sites in Lieksa and Nurmes—secures our demand for high-quality timber from our further processing units and further broadens Binder’s product offering and service to customers.”