Metsä Wood parts with its wood element business, agrees with Lapwall on multiyear delivery contract for laminated veneer lumber and spruce plywood.
Metsä Wood, the wood products industry division of the Metsä Group, is divesting its wood element business in Pälkäne, Finland, to Lapwall Oy. The transaction is expected to be finalised by the end of January with the entire staff working in the wood element business being transferred to the new owner.
According to an announcement released by Metsä Group on 11 January 2017, the divestment will have no material impact on the group's financials.
In connection with the transaction Metsä Wood and Lapwall have signed a multiyear contract concerning deliveries of spruce plywood and laminated veneer lumber.
In Pyhänta, Finland, Lapwall reportedly runs "one of the largest wood element plants in Finland and Scandinavia in terms of capacity and square meters manufactured."