Iivari Mononen Oy and ScanPole As have made a contract concerning the sale of the share capital stock of ScanPole Norge As to Iivari Mononen Oy. - Norway Exports

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Iivari Mononen Oy and ScanPole As have made a contract concerning the sale of the share capital stock of ScanPole Norge As to Iivari Mononen Oy.

Iivari Mononen Oy and ScanPole As have made a contract concerning the sale of the share capital stock of ScanPole Norge As to Iivari Mononen Oy. They have also agreed on transferring ScanPole Sverige Ab’s inventories, part of the fixed assets and the orders backlog and contracts to ScanPole Norge As. After these arrangements, ScanPole Norge As will own 66,7% of the share capital stock of the sales company ScanPole Ltd.

The primary product of ScanPole Norge As is creosote impregnated poles. Their main market areas are Norway, Sweden, United Kingdom and the Middle-East. The turnover (1.1. - 31.12.2010) of ScanPole Norge As combined with the recently integrated Swedish business activities was approximately 115 MNOK (14,4 MEUR). The company em-ployed 19 employees.

ScanPole Norge As will carry on operation in Ilseng, Norway, as a subsidiary company of Iivari Mononen Oy. The company will focus on manufacturing creosoted poles mainly to the current market area. Iivari Mononen Group will gradually shut down the impreg-nation plant in Kolho by the end of the year 2011. Pole production in Finland will be cen-tralised to the Höljäkkä plant in Nurmes. Pole production in the Iivari Mononen Group will be divided between Finnish and Norwegian plants according to the optimal logistics and market areas. PrimaTimber Oy will continue to manufacture preservative-treated timber at the Joensuu plant.

The previous owner of Scanpole Norge As sees the sale as an excellent opportunity to further develop the company. The previous owner has put much effort into restructuring the business, production and management, and see that the transfer of shares to an indus-trial player in the pole market will further strengthen activities at Ilseng, Norway. This will put the company and employees in an improved position to meet the future.

The purchase of share capital stock and business activities strengthens the growth strat-egy of the Iivari Mononen Group. It also strengthens company’s market position in the pole business in Europe and the Middle-East. The vision of Iivari Mononen Group is to be the leading and active operator in its line of industry in Europe. Business activities in the Iivari Mononen Group are divided into three areas comprising production and sales of poles and treated timber and industrial services linked to these products. Budgeted turn-over for 2011 is 46,7 MEUR and the personnel consists of 73 employees.

For additional information, please contact Managing Director Ari Mononen GSM +358 400 803040 or e-mail ari.mononen@iivarimononen.fi.

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