Friday, August 16, 2024
Raute’s Board of Directors has approved a merger plan according to which the company’s fully owned subsidiary Hiottu Oy will be merged into Raute Corporation. The merger is expected to take place on 31 December 2024.
Raute Corporation acquired 80 percent of the shares of Hiottu Oy in 2020 and redeemed the remaining 20 percent in 2023. Hiottu Oy has brought strong digitalisation expertise to Raute, especially in machine vision and AI solutions.
The objective of the merger is to simplify the Group structure to increase business efficiency.
Raute is the partner to future-proof the wood industry. Their technologies cover different production processes with supporting digital and analytics solutions for engineered wood products. Additionally, they offer full-scale service concept ranging from spare parts to regular maintenance and modernisations. Their innovative hardware and software solutions are designed to support our customers’ efficient consumption of natural resources. In mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Raute’s head office and main production is located in Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, Changzhou, China, and in Pullman, WA, USA. Raute’s net sales in 2023 were EUR 145.4 million.
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