HS Timber Group Announces Sale of Its Sebes, Romania, Sawmill to Ziegler Group
Ziegler Group acquires Sebeș site from HS Timber Group
HS Timber Group (HSTG), an Austrian wood processing company, announced Tuesday (4-18-23) that it had recently sold one of its Romanian units to Germany’s Ziegler Group.
According to the press release, HSTG has agreed to sell HS Timber Productions Sebeș SRL, its sawmill site in Sebes. The company did not disclose the value of the transaction, which is anticipated to close by the middle of the year following customary regulatory approvals.
Under the agreement, Ziegler Group is taking over the entire team of more than 650 employees currently working at the HSTG site.
With this sale, HSTG says it will consolidate its long-term future in Romania and be able to make better use of its existing sawmill facilities. HSTG operates a sawmill, blockboard plant, and post and beam production facility at other locations in Romania.
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