Element5 Receives Investment From the HASSLACHER Group; Plans to Expand Glulam Production in Ontario

Element5, a producer of cross-laminated timber and structural solutions for the North American market, and the HASSLACHER Group, an Austria-based leader in the European timber industry, jointly announced on Tuesday that HASSLACHER Group is acquiring a stake in Element5.

Element5 is based in St. Thomas, Ontario, and specializes in the design, manufacture, and assembly of modern engineered timber buildings. The HASSLACHER Group is an innovation driver in wood processing and is taking this investment as important step to strengthen and grow its position in the North American market.

According to the press release, the HASSLACHER Group will be the first European company to invest in the development and expansion of mass timber production capacity in the North American market. In addition to the existing CLT line in St. Thomas, Ontario, the HASSLACHER Group investment will fund the start-up of a new state-of-the-art glulam line, allowing Element5 to produce a full range of machined glulam beams, columns, and assemblies.

With the cooperation and expertise of the HASSLACHER Group, this will create a high-performance production site in St. Thomas with a total mass timber production capacity of up to 100,000 m³ annually, which will go into full operation in the first half of 2025. Following the expansion, Element5 will employ over 200 people.