Sweden-headed wood processing group Bergs Timber AB (Bergs) has announced that it has completed the divestment of its Latvian sawmill Vika Wood SIA to Austria-headed wood processing major HS Timber Group.
On January 9, 2025, it was announced that Bergs Timber had agreed with HS Timber Group to sell Vika Wood. After the transaction received approval from the competition authority, the transaction was completed on January 31, 2025.
We are very pleased to see that Vika Wood has found a good new owner with a clear vision and willingness to continue investing and developing the company. At the same time, we would like to extend a special thank you to CEO Haralds Kronbergs and his entire team for the successful years together with Bergs Timber and for developing Vika Wood into one of the most efficient sawmills in the Baltics, said Peter Nilsson, CEO of Bergs Timber.
