SEATTLE (Scrap Monster): Stora Enso announced its decision to further strengthen its presence in France. As part of this, the company announced investment in the French wood processing company, ACDF Industrie SAS. Through this investment, which is in line with its growth strategy, Stora Enso now holds 35% shares of the company.
Lars Völkel, Executive Vice President, Stora Enso’s Wood Products division noted that France is one of its priority markets for growth. The investment builds on Stora Enso’s capacity to produce CLT and LVL near sustainably managed forests. Also, the partnership with ACDF Industrie will strengthen its market reach and position as a leading global provider of sustainable engineered wood products, he added.
It must be noted that ACDF Industrie is currently under the process of installing a second production line at the facility, with completion expected by February next year. This will further boost the capacity of mass timber elements.
In addition, Stora Enso has also advanced its partnership network in France by signing a business partnership with Bouygues S.A., which in turn will secure a stable delivery of CLT to Bouygues’ building projects.
The expanding French partnership network will enable Stora Enso to accelerate development of solutions for the increasing demand for wooden building materials.
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