Finnforest Corporation takes over parts of Montague L Meyer
Finnforest has bought the softwood timber distribution and processing business of the British firm Montague L Meyer Ltd (MLM). The deal strengthens Finnforest’s position in and share of the UK wood products manufacturing and distribution market. Finnforest UK’s turnover will increase by a fifth to some €380 million and the volume of its wood products deliveries will grow from 800,000 cubic metres to 1,000,000.
MLM’s sawn and machined softwood products complement the existing Finnforest range. The firm imports a total of 300,000 cubic metres of sawn softwood from the Nordic countries and Russia. The deal will double Finnforest’s exports of softwood sawn timber and products made from it from Finland to the UK. It also opens new marketing channels for Finnforest Kerto LVL and glulam products as well as products from the newly-opened I-joist production line in King’s Lynn.
MLM’s production and distribution facilities in Widnes and Hull will be transferred to Finnforest. MLM’s clientele is mostly comprised of builders’ merchants. The manufacturing and wholesaling of timber-based panel products were not part of the deal.