Press release 25 September 2024

VERSOWOOD OY ACQUIRES PINAR OY

With the transaction signed on 25 September 2024, Versowood Oy acquired the share capital of Pinar Oy from Heikki Aura. Pinar Oy manufactures wooden telephone and electricity poles in Tuohikotti, Kouvola. Pinar Oy’s turnover is approximately EUR 6 million and the company has seven employees.

The acquisition strengthens Versowood’s position in the telephone and electricity pole business. Following the acquisition, Versowood aims at a turnover of approximately EUR 20 million in the infrastructure business.

Versowood Group’s turnover for the fiscal year ended June 2024 amounted to EUR 483 million. The turnover target for the current fiscal year is more than EUR 550 million. The company employs approximately 900 people in total. Besides telephone and electricity poles, Versowood manufactures sawn timber and its various further processed products, planed, painted, strength-graded and impregnated products, glulam products and structures, wooden packaging products, bioenergy products and wooden bridges.

Further information:

CEO Ville Kopra, Versowood Oy, tel. +358 500 235 701, ville.kopra@versowood.fi