Ittur AB and Södra today concluded a memorandum of agreement regarding the sale of 100 percent of the shares in Ittur Prefab Industrier AB. Ittur Prefab Industrier owns 100 percent of the shares in Trivselhus AB, which is one of Sweden's largest manufacturers of prefabricated wooden houses.
“Södra is a strong, well-renowned company in the wood-based products market. Södra is giving Trivselhus the financial strength it needs to sustain it through the turbulent times we now find ourselves in,” says Johan Hansen, board chairman of Trivselhus and owner of the Ittur group.
“Trivselhus is a fine company and a strong brand name. We are delighted to have the opportunity to own and continue developing this fine company,” says Leif Brodén, President and CEO of Södra.
Among other things the acquisition requires the approval of the Swedish and Norwegian competition authorities. The deal is expected to go ahead in the third quarter of 2009.
For further information about Trivselhus, visit the company web site www.trivselhus.se.
For more information, please contact:
Leif Brodén, President and CEO, Södra, +46 8 470 890 00
Mikael Staffas, Director of Finance, Södra, +46 470 892 20
Peter Nilsson, President, Södra Timber, +46 70 315 09 27
Johan Hansen, Board chairman of Trivselhus and President, Ittur group, +46 705 235 270