LISBON (AFX) - Portuguese wood panels producer Sonae Industria said it has agreed to buy French particleboard specialist Darbo SAS from Finsa of Spain for 30 mln eur.
Darbo's plant in Linxe, South West France, has an installed production capacity of 450,000 cubic metres of particle board and 7 mln square metres of melamine facing.
The factory had turnover of 55 mln eur last year and achieved EBITDA breakeven in the second quarter of this year.
'Although the Darbo plant is located in France, from a commercial and logistics perspective, it is naturally closer to Iberia and will therefore be integrated in our Iberian management organization,' Sonae Industria said.
'Sonae Industria anticipates that with the integration, it will be able to enhance the plants profitability to levels closer to that of its other Iberian assets,' it added. equitynext@afxnews.com an COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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