Rettenmeier buys a sawmill from IKEA in Latvia

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Rettenmeier/Fordaq
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The German Rettenmeier Group (Wilburgstetten, Germany) will acquire IKEA's sawmill in Incukalns, Latvia. The sawmill has a processing capacity of 330.000 cubic meters of pine logs, and it's located near the Rettenmeier Baltic Timber sawmill which produces around 300.000 cubic meters of spruce. The 215 employees will be taken over by Rettenmeier.

The IKEA Incukalns site also has a drying capacity of 150.000 cubic meters and produces 10.000 cubic meters of glulam. With this acquisition, Rettenmeier will expand its annual sawing capacity from 2.5 million to 2.83 million cubic meters

The acquisition includes the joint venture JSC "Incukalns Timber", owned by IKEA and Rettenmeier, which is a logging company with 49 employees. Incukalns Timber will now be fully owned by the German company, which thus aims to expand its activities in Eastern Europe with an easier access to excellent pine grades.

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