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RUSSIAN CARTEL AUTHORITY APPROVES OF GAGARIN TAKEOVER

The Russian cartel authority has approved the takeover of the Russian chipboard manufacturer “OOO Gagarinskiy Fanerniy Zavod” in Gagarin by the EGGER Group. Gagarin, situated 150 km west of Moscow, will thus become the 17th plant in the EGGER Group and EGGER’s second location in Russia. Apart from a raw chipboard production with 500,000 m³ capacity and an upgrading capacity of 20 mill. m² per year, Gagarin also has a forestry operation with 80,000 hectares. Gagarin employs a total of about 500 employees, who will be joining the EGGER Group. The sales contract was already signed on 20th May 2011, and both parties agreed to maintain confidentiality about the purchase price.



Press release