Bergs Timber Announced Big Investment in Innovation Company

SEATTLE (Scrap Monster):  Bergs Timber announced that it has entered into collaboration with the innovation company Wood Tube, which specializes in patented paper studs used in the manufacture of interior walls and furniture frames.

According to company press release, Bergs will secure the financing of a production facility for industrial stud production, through investment of around SEK 8.5 million. Consequently, Bergs will receive 25% ownership in Wood Tube. It will work in partnership with other owners and employees towards development of the company. The investment in Wood Tube is completely in line with Berg’s plan to boost production of sustainable products from forest raw materials.

Peter Nilsson, CEO, Bergs Timber noted that the innovative studs as well as other applications by Wood Tube are likely to play an important role in construction sector. The long-term ownership in the company will pave way for development of the company into a successful one, he added.

Meantime, Tobia Soderbom Olsson, CEO, Wood Tube said that the company has got a stable partner in Bergs. The expertise of Bergs in developing companies will prove valuable to them in its continued expansion phase, he noted.

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