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2018-04-27 00:00:00
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Holzindustrie Schweighofer (HS), one of Europe’s leading timber processing companies has relinquished its position as a foremost investor in the Romanian forest sector. The company has sold its wholly owned subsidiary Cascade Empire s.r.l. and its forest management unit Ocol Silvic Cascade Empire s.r.l. to the Swedish company the Green Gold Group. This information was gathered from the announcement made by the contracting parties; however, there was an agreement not to disclose the purchase price and the contract details.
Cascade Empire’s forest areas occupy a space of about 14,283 hectares located in the Romanian region of Hunedoara, Gorj, Valcea, Prahova, Busau, Neamt, and Suceava. Cascade Empire acquired the forests between 2003 and 2011. The company currently employs 19 workers including the staff in charge of the forest management unit. With the new acquisition, the employees have been absorbed by the new owners. The Schweighofer Group continues to support sustainable forestry in the region and globally. Holzindustrie Schweighofer started its business in the Romanian market in 2003. The company currently operates three sawmills and two-panel factories with a workforce of about 3,100 people. Over the years, the Holzindustrie Schweighofer has implemented action plans to achieve sustainability in the Romanian timber industry in line with the legal requirements. The company remains committed to the implementation of its action plans while maintaining a focus to continue cooperating with NGOs and other stakeholders in the industry.
It can be recalled that Holzindustrie Schweighofer had earlier announced its successful implementation an action plan to promote sustainable timber industry in Romania.
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