SCA Wood France and Groupe ISB confirm merger
SCA Wood France, a subsidiary of Sweden-headed forest industry major SCA and the French company Innovation Solutions Bois, Groupe ISB, have merged their operations in wood processing and distribution of wood products in France.
"The French building materials sector is growing and is of great importance to SCA. With the merger we create a large and resourceful supplier serving demanding customers all over France”, said Jerry Larsson, President SCA Wood.
According to a joint statement, the merger will result in a large and resourceful supplier of wood products to the French building material sector. SCA’s contribution is the company’s operations in wood processing and distribution in Rochefort, France. SCA’s Bonneuil-Matours site will not be part of Groupe ISB but will close following a fire incident in 2018.
SCA’s contribution amounts to SEK 300 million (≈ EUR 28.3 million) and contains SCA’s wood operations in France and procurement of shares in ISB. SCA will have a 38.5 percent share in Groupe ISB and will become the largest shareholder. SCA will not consolidate the company.
For SCA, Groupe ISB is a perfect fit. We share the same values and focus on customer satisfaction, sustainability, and innovation. We will strengthen the value-chain from the forest, through our sawmills, to the growing building materials market in France, said Jerry Larsson.
The final merger agreement was signed and completed on March 4, 2019, and is effective immediately. SCA Wood France supplies more than 100 000 m3 of wood products to the French building materials market. The products include wood paneling, flooring, decking, and construction timber.
SCA Wood France has approximately 80 employees and sales of EUR 40 million. Innovation Solutions Bois is France’s largest supplier of wood products to the building materials market. Groupe ISB has sales all over France and wood processing in five locations. Groupe ISB has approximately 470 employees and sales of more than EUR 230 million.