Austrian group Kronospan, already active on the Romanian market, announced it is taking over the ZF Timber Sebes wood processing factory in Sebes (central Romania) from the insolvent German group Ziegler Holding.

With this new acquisition, the company expands its product portfolio, now including lumber. 

The products made at the Sebes factory will continue to be distributed both on the local market and in 75 other countries.

ZG Timber Sebes reported RON 500 million (EUR 100 million) in revenues and RON 57 million (EUR 12 million) losses in 2023, its first year of activity. The factory hires around 500. 

ZG Timber Sebes was not directly affected by the bankruptcy of the parent group.

"As part of its strategy to enhance its product offering, Kronospan will now incorporate sawn wood products into its global portfolio. In addition, the sawn wood products will complement the company's existing production of wood-based panels, including particleboard (PB), medium density fiberboard (MDF), and oriented strand board (OSB) at its Romanian plants in Sebes and Brasov," Kronospan representatives stated, according to Profit.ro.

iulian@romania-insider.com

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