July 31, 2019
The daily brief: 31 July 2019
Metsä Wood has supplied laminated veneer lumber to the development of the historic Cranleigh School in Surrey.
All the daily Finnish business news that works: Efore, Neste, Metso and Metsä Wood make headlines.
Efore has agreed to sell its telecommunications business to Chinese company Kexin, Neste is celebrating its 1.4 billion-euro renewables production extension in Singapore, Metso has found new valve distribution partners in Europe, and Metsä Board’s engineered wood products have been used for the renovation of a historic school in the UK.
Finland-based Efore has agreed to sell its entire telecommunications business to Shenzhen Kexin Communication Technologies. The reported debt-free purchase price is six million euros and the estimated purchase price for the shares 3.5 million euros. Following the acquisition, 73 Efore employees based in Finland, Sweden and China will move over to the buyer. A planned joint venture with another Chinese power supplier will be cancelled as a result of the transaction.
Neste has today held a foundation stone ceremony to officially mark the 1.4 billion-euro extension of its renewable products production line in Singapore. The extension will increase Neste’s total renewable product capacity in the city-state by 1.3 million tonnes to almost 4.5 million tonnes. The products include renewable diesel, renewable aviation fuel and raw materials for various polymers and chemicals materials. Neste aims to start up the new production line during the first half of 2022.
Metso has signed new distribution agreements for its valve products with eight partners in as many countries in Europe. The deals will increase its valve offering for various client industries. The new partners serve several different process industries, such as chemical, steel, power and paper.
Finnish producer of engineered wood products Metsä Wood has supplied laminated veneer lumber for the development of the Cranleigh School in Surrey, established in 1865. During the renovation, two historic buildings were turned into the van Hasselt Centre with teaching space and a café. The centre was built using a hybrid structure consisting of a steel frame and prefabricated wood elements.
Looking for more good news? Subscribe to our newsletter