HS Timber Group, formerly known as Holzindustrie Schweighofer Group, has acquired 100% of the shares in the Finnish sawmill Luvian Saha Oy.
Luvian Saha Oy produces about 300,000 cubic meters of lumber annually. The company employs about 120 people.
Luvia is specialized in processing domestic softwood which is destined mainly for export markets.
HS Timber Group and Luvia sawmill have agreed not to disclose the purchase price.
In addition to lumber, Luvia’s sawmill produces high-quality finished and surface-treated wood products, which will continue to be produced and marketed under the Luvia brand.
HS Timber Group is one of Europe’s leading wood processing companies with exports to more than 70 countries.
With the acquisition of Luvian Saha, HS Timber Group wants to grow and expand its product range, the company says.