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HS Timber Group and Blue Minds sign contract to acquire solar glass producer 'Interfloat Corporation'

  1. Acquisition of the European market leader for solar glass with production site in Brandenburg, Germany
  2. HS Timber Group to acquire 80% , Blue Minds 20% - Closing subject to approval by the Competition authority
  3. Expansion of the sustainable portfolio of HS Timber Group - Blue Minds implements commitment to energy transition for the first time in the field of industrial production
  4. Interfloat Corporation with around 300 employees, turnover in 2019 was EUR 45 million. 

The market for solar power is booming, and all experts expect significantly higher growth rates in the coming years. Electricity from photovoltaics will become Europe's most important energy source in the future. The solar industry will thus become one of the most important industries of the future in Europe in competition with Asian suppliers. An expansion of production capacities is necessary to meet the increasing demand. HS Timber Group and Blue Minds want to actively exploit the international growth opportunities of this market and systematically expand their regional presence in Europe.

On 28 February 2020, a contract was signed to acquire Interfloat Group, a leading supplier to the European solar industry. With GMB Glasmanufaktur Brandenburg GmbH and its approximately 300 employees, the group is one of the largest manufacturers of solar glass for photovoltaic systems and greenhouses in Europe. The acquisition is subject to the approval of the German and Austrian competition authorities. The closing, i.e. the final formal conclusion of the purchase, is expected for the second quarter of 2020, subject to the approval of the authorities. Following the closing, HS Timber Group will hold 80% of the Interfloat Group, the remaining shares will be held by the Blue Minds Company.

HS Timber Group, one of Europe's leading wood-processing companies with export destinations in over 70 countries, is expanding its sustainable portfolio with this acquisition. For HS Timber Group, this step follows the strategic consideration of having a main stand in the design of sustainable energy production of the future, in addition to anchoring it in wood processing. The new owners are firmly committed to Brandenburg and its excellent employees.

The Blue Minds Group is one of the innovation leaders in the energy and infrastructure sector with locations in Vienna, Linz, Graz, Tel Aviv and Munich. The investment portfolio focuses on operational technologies and AI-based data integration. With the acquisition of a stake in Interfloat, Blue Minds is expanding its portfolio from digital business models to industrial manufacturing in the energy transition sector.

About HS Timber Group 
The HS Timber Group has its roots in a traditional Austrian family business with more than 400 years of experience in wood processing. Today, the group is mainly active in the timber industry, but also in the sawn timber trade and in the bioenergy production. It operates three sawmills and two wood panel production plants in Romania, as well as another sawmill in Germany. With around 3,200 employees, the HS Timber Group is one of the leading companies in the woodworking industry in Europe. The company's products are exported to more than 70 countries. HS Timber Group GmbH is a company of the ‘Evergreen Privatstiftung’. 

About The Blue Minds Group
Founded in Austria, the Blue Minds Group is one of the innovation leaders in the energy and infrastructure sector with locations in Vienna, Linz, Graz, Tel Aviv and Munich with around 60 employees. The investment portfolio focuses on operational technologies and AI-based data integration. Blue Minds develops companies in the field of energy transformation, mobility and real estate and has been investing in early-stage startups and high-tech companies in the DACH region, Israel and overseas since 2014. 

Interfloat Corporation (
Interfloat Corporation is an independent family business and has been a permanent supplier to the European solar industry since 1982. As the first European importer of solar glass ever, we continuously invested in the research and development of innovative products, novel glass structures and high-performance coating technology. So the company has already developed from a long-standing trading partner for solar glasses to a producer and reliable investor in Brandenburg in 2007/8. With the engagement in gmb Glasmanufaktur Brandenburg GmbH, the value chain was extended in a targeted manner.

For further information please contact: 
Thomas Huemer 
Tel: +43 664 88 44 64 27 
Email: thomas.huemer[at]