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July 17, 2019

Stora Enso sells its thermal wood business to Lunawood

Stora Enso sells its thermal wood business to Lunawood

The deal marks the end of heat production in Uimaharju, Finland. Lunawood, who is seeking growth, will move the equipment to other factories

Lunawood and Stora Enso have signed an agreement to sell the production assets related to Stora Enso Uimaharju Thermowood to Lunawood.

This agreement will strengthen Lunawood’s position as the global market leader and forerunner in ecological Thermowood solutions, as the company says in a press release.

“The asset purchase of Uimaharju Thermowood plays an important role in our strategic growth and supports our latest high technology investments”, says Lunawood CEO Arto Halonen.

“We are pleased to have come to an agreement with Lunawood as the buyer of our Uimaharju Thermowood production assets. We expect the Thermowood market to continue to grow and trust that we will continue to serve our Thermowood customers with products produced in our Launkalne mill in Latvia”, says Miikka Pesonen, Head of Sales, Stora Enso division Wood Products.

Stora Enso plans to run the production of Thermowood in Uimaharju until mid-July. Lunawood and Stora Enso have also settled a raw material agreement in order to guarantee the availability of existing Uimaharju product portfolio from Lunawood.

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