SCA Wood Supply UK Ltd, which manufactures and distributes timber and associated products, has been sold to BSW Timber Ltd.
SCA Wood will continue with the sales of wood products to industrial customers in the UK.
“We have been very pleased with the development of SCA Wood Supply UK , both in the Home Improvement and Builders Merchant sector, but we believe that the business will further develop under the ownership of BSW”, says Jerry Larsson, President of SCA Wood.
“We will continue to supply sawn timber to BSW Timber, for sale on the UK market, in addition to our existing UK Industrial Solutions import and distribution operations, which remain part of SCA Wood.”
The transaction is expected to reduce the SCA group’s net sales by about £120,000 on an annual basis and the net income by around £2.2 million on an annual basis. Net Debt has been reduced by around £13 million as a result of the transaction. Approximately 280 SCA employees in the UK will join BSW Timber as part of the transaction.
SCA’s Wood Supply UK Managing Director, John Griffiths, will remain with SCA Wood until his planned retirement in March and will continue in an advisory role through a transitionary period.
