Schweighofer Group quits its Romanian forest investments
- Romanian forest areas sold to Swedish GreenGold Group
- Company remains committed to a sustainable timber industry in Romania
The Schweighofer Group, one of Europe’s leading wood processing companies, quits its Romanian forest investments and sells its wholly-owned subsidiary Cascade Empire s.r.l. (Cascade Empire) as well as its forest management unit Ocol Silvic Cascade Empire s.r.l. to the Swedish company GreenGold Group. The contracting parties agreed not to disclose the purchase price and the contract details. Cascade Empire’s forest areas amount to 14,283 hectares located in the Romanian regions of Hunedoara, Gorj, Valcea, Prahova, Buzau, Neamt and Suceava.
Cascade Empire acquired the forests in the period between 2003 and 2011 and today employs 19 people, including the staff of the forest management unit – all employees will be taken over by the new owner. The Schweighofer Group continues to support sustainable forestry. Holzindustrie Schweighofer entered the Romanian market in 2003. Today, the company operates three sawmills and two panel factories, employs around 3,100 people and has implemented an action plan for a sustainable timber industry in Romania that goes far beyond all legal requirements. Holzindustrie Schweighofer remains committed to this action plan as well as to continually optimizing its dialogue with NGOs and other stakeholders.
