Pfeifer Group completes acquisition of Finnish wood processor Pölkky Oy

Pölkky Oy
January 31, 2023
Category: Business & Politics
Region: International

FINLAND — The Austrian Pfeifer Holding GmbH was able to successfully complete the acquisition of the largest private wood processing company in northern Finland, Pölkky Oy, by closing the transaction. After signing the contract at the end of December 2022, the competition authority has now given green light for the merger. …The takeover in Finland strengthens Pfeifer’s position in the European timber industry. In the course of the signing, the management had announced that Pölkky’s ambitious investment projects and business activities with full commitment to develop further. …Petteri Virranniemi will remain CEO, Josef Dringel (Chairman), Ewald Franzoi, Esko Nenola and Peter Nygård will sit on the newly organized Board of Directors. With the takeover, the number of employees of the Pfeifer Group increases to around 2,600 employees in four countries.

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