Sawmill processes over 1 million m3 of roundwood annually with Euro 150 million revenue.
binderholz Group has agreed to acquire the entire share capital of Kuhmo Oy and Juntinsalo Oy from their shareholders, with the transaction subject to approval by relevant competition authorities, according to binderholz.
Kuhmo Oy has been one of Finland’s best-known sawmilling companies for decades, processing over 1 million solid cubic meters of roundwood annually and producing approximately 500,000 m3 of sawn lumber, with 80% pine and 20% spruce, generating annual revenue of approximately Euro 150 million and employing 180 people.
Juntinsalo Oy serves as the real estate company of the Kuhmo Group.
Reinhard Binder, Chairman of the binderholz group, stated that the acquisition will strengthen Binder’s footprint in the world’s best growing area for coniferous and represents a clear commitment to Finnish operations, with Kuhmo together with existing sites in Lieksa and Nurmes securing demand for high-quality timber for further processing units.
The transaction will not result in any changes to employment relationships, with employees transferring under existing terms and conditions, and is expected to strengthen the position of the Kainuu forest bioeconomy sector while enhancing the region’s international visibility as a hub for the wood processing industry.