14 November 2016
On 10 November 2016, the Finnish Competition and Consumer Authority FCCA approved a corporate transaction whereby Powerflute Oyj will acquire Vapo Oy’s share of Harvestia.
The Finnish Competition and Consumer Authority has concluded that the acquisition will not significantly impede effective competition on the Finnish market, or have a material negative impact on competition.
Powerflute is a paper and packaging group and the parent company of the Powerflute Group. The Powerflute Group consists of three operative companies: Corenso, Powerflute Savon Sellu Oy and Harvestia.
The acquired company, Harvestia, is a wood supply company jointly owned by Powerflute and Vapo. Harvestia acquires pulpwood for the Kuopio-based Savon Sellu mill and wood for its partners. Before the acquisition took place, Harvestia sold the majority of its wood to its owners, and the transaction will not significantly affect its business.
The FCCA’s decision includes business secrets of the parties involved. The decision can only be published once all confidential information has been removed, which will take approximately two weeks.
Further information: Research Officer Laura Kauppila tel. +358 (0)29 505 3335.