Toronto (Canada), Sachsenburg (Austria) – The HASSLACHER Group is acquiring a stake in Element5, a mass timber producer specializing in the design, manufacture, and assembly of modern engineered timber buildings, based in St. Thomas, Ontario. Element5 employs over 100 people and produces cross-laminated timber and structural solutions for the North American market. The HASSLACHER Group is a leader in the European timber industry, an innovation driver in wood processing, and is taking this important strategic step to strengthen and grow its position in the North American market. …With the investment in Element5, the HASSLACHER Group is the first European company to invest in the development and expansion of mass timber production capacity in the North American market. 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.