The Austrian Pfeifer Holding GmbH, a family-run company founded in 1948, announced on Tuesday (1-31-23) that it has successfully completed the acquisition of the largest private wood process company in northern Finland, Pölkky Oy. The contract was originally signed at the end of December 2022 but had been waiting on the competition authority’s approval, and that has just been secured.
The purchase in Finland strengthens Pfeifer’s position as one of the leading companies in the European timber industry and equips the producer for global competition, according to the announcement. Pfeifer’s management has also committed to carrying out Pölkky’s ambitious investment projects and business activities, and it looks forward to developing them further.
With the acquisition of Pölkky, the Pfeifer Group says it will increase its number of employees to approximately 2,600 in four countries. The projected annual turnover will rise to 1.4 billion euros in 2023.
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