Pervanovo increases supply of oak materials through acquisition of veneer company Spacva d.d. in Croatia

Viken, Sweden

Pervanovo Invest AB, Välinge Innovations’ parent company headquartered in Viken Sweden, and with subsidiaries in Croatia, has acquired 98% of the shares in the Croatian listed company Spacva d.d. in Vinkovci.

Spacva has 850 employees and is one of Europe’s largest manufacturers of oak veneers.

Following the acquisition, Pervanovo will become Croatia’s largest wood processing company with 1,700 employees and 5 production units.

Pervanovo’s two Croatian veneer companies — Bjelin Otok and Spacva d. d. —located on the edge of Europe’s largest continuous oak forest, Spacva Forest, has a production capacity of 25 million m2 of oak veneer — meaning Pervanovo has become Europe’s largest manufacturer of high-quality FSC-certified oak veneers for the flooring and furniture industry.

In a few years the main part of the oak veneer will be used internally to produce hardened wooden floors in Viken, Sweden, and in Ogulin, Croatia according to the patented Woodura technology developed by Pervanovo’s subsidiary Välinge in Viken.

“There is a shortage of oak, and the acquisition will double our oak supply. With our new Woodura technology, we can manufacture 10 times more hardened wooden floors from an oak log than when conventional technology is used. Through the acquisition, we have now secured all the oak veneers that we need to become Europe’s leading wood flooring company with a production exceeding 20 million m2,”
says Darko Pervan, CEO of Pervanovo Invest AB.

“We already buy large quantities of veneer from our sister company Bjelin Otok in Croatia. The veneer from the oak in the Spacva forest is specially adapted for Välinge’s production of long and wide Woodura floors — its high quality and FSC certification is very appreciated by our customers not only in Europe but also in the USA and Asia where our own sales forces have done a great job to establish this category of hardened floors. To fulfil our long-term goals to produce and sell large volumes of floors with Woodura top layer in factories in different parts of the world it is crucial to have secured the top layer material at an early stage. The expanded veneer production capacity enables us to both increase our own flooring production as well as to supply veneers to our Woodura licensees,”
says Niclas Håkansson, CEO, Välinge Innovation.

“When all shares have been acquired, Spacva d.d. in Vinkovci will be delisted and renamed to Bjelin Spacva d.o.o. Through the coordination of our production units in Ogulin, Bjelovar, Otok, and Vinkovci, the oak raw material can be utilized more efficiently. The veneer production in Vinkovci will be coordinated with our veneer production in Otok. Our veneer plants in Vinkovci and Otok process 90% of all veneer logs harvested in Spacva Forest. The short transport distances provide significant benefits in terms of costs and product quality. Major investments will be made in the two veneer plants to adapt the veneer to the production of Woodura floors and to expand capacity. The production of elements and lamellas for parquet floors in Vinkovci will be expanded and coordinated with our production in Bjelovar. In Vinkovci we will also produce furniture with Välinge’s click technology. With all these investments and the availability of FSC-certified oak, our Croatian group of companies will become one of the leading and most cost-effective sustainable wood processing units for oak raw materials in Europe. When all our planned investments are completed, the number of employees in Croatia will increase from 1,700 to about 2,500 and our sales will rise to about € 500 million. 80% of our future sales will be Woodura floors from our new factory Ogulin 2,”
says Stjepan Vojnic, CEO, Pervanovo Croatia.

For more information please contact:
Niclas Håkansson
Välinge Innovation
Tel: +46 (0) 706 23 00 08

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