Thursday, February 2, 2023
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Pfeifer Holding GmbH effectively finalised the acquisition of Pölkky Oy, the largest privately owned wood processing company in northern Finland. The merger has now been approved by the competition authority. The deal was closed on January 31, 2023 and it was decided that the purchasing price would remain confidential. Pfeifer’s position as one of the top businesses in the European timber sector is strengthened by the takeover in Finland, which also prepares the manufacturer for international competition. The management had stated during the signing that Polkky’s ambitious investment projects and business activities will continue to grow.
Management to remain the same
The management, brand, and business operations of Polkky will all be maintained. Petteri Virranniemi will continue to serve as CEO, and the newly constituted Board of Directors will include Ewald Franzoi, Esko Nenola, Peter Nygrd, and Josef Dringel as members. The Pfeifer Group now employs over 2,600 people across four nations as a result of the acquisition. By 2023, it is anticipated that the yearly turnover will reach 1.4 billion euros.
The growth plan that led to the expansion was carefully thought out. In order to sustainably safeguard the Group’s security of supply and capability to deliver, the Pfeifer Group is thus also opening up new sources of supply with regard to the high-quality raw material in addition to the alluring Scandinavian market.
Since its establishment in 1948, the Austrian Pfeifer Holding GmbH has been run by the same family. At thirteen locations in Austria, Germany, the Czech Republic, and Finland, it has 2,600 employees. Imst in Austria’s Tyrol region houses the corporate headquarters. Around 5.4 million solid metres of wood are cut annually in the Group’s fully integrated sawmills and processed along the entire value chain into sawn timber and planed goods, concrete formwork panels, formwork girders, cross laminated timber (CLT), glued laminated timber, glued solid wood panels, pallet blocks, briquettes, pellets, and bioelectricity.