The Competition Council (KP) has allowed Nextwood One, a company belonging to the Austrian HS Timber Group, to acquire sole decisive influence over the Latvian sawn timber producer SIA Kurekss, the KP said.

Nextwood Two GmbH is a holding company registered in Austria, which is indirectly owned by the Austria-based company HS Timber Group GmbH (HS Timber), which in turn is owned by the private investment fund Evergreen Privatstiftung.

HS Timber has production facilities in Austria, Germany, Romania, Finland, and Argentina, and employs more than 2,700 people, serving customers in 80 countries. HS Timber already owns the Latvian wood processing company SIA Vika Wood.

SIA Kurekss is a manufacturer and exporter of sawn timber, with a production facility located in the Ventspils region. The company is also the sole owner of the limited liability company Kurzemes granulas, which specialises in the production and sale of wood pellets.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Tell us about a mistake