ESS-ENN Timber divests its glued laminated timber business to VTI

11 jul, 2024

ESS-ENN Timber AB and the Danish company VTI A/S have signed an agreement for the asset transfer of ESS-ENN Timber’s edge-glued laminated timber business. Through the transfer, VTI A/S will take over the glued laminated timber business, including existing customer contracts and the company’s FixBoard brand.

VTI is a Danish family-owned company with approximately 150 employees. The company’s core competence is the production of glulam timber products for various purposes such as furniture, windows, doors, stairs, and DIY projects. VTI, like ESS-ENN, has more than 40 years of experience in glued laminated timber production, making it one of the leading manufacturers in Europe.

With the company’s many years of experience, VTI has extensive expertise in raw materials, production processes, and quality. The company aims to function as a knowledge hub that contributes to the development of customers’ businesses, throughout the entire value chain from sustainable forestry to finished product. Like ESS-ENN, VTI has a deep focus on sustainability and aims to be at the forefront of minimized environmental impact, sustainable supply chains, and positive social development.

“It has been important for us in choosing VTI that the existing business and future deliveries can continue unchanged, ensuring good continuity for the company’s customers and partners. With VTI’s experience and market position, we have great confidence that our customers will continue to have a strong and reliable partner in this segment,” comments Tom Olander, co-founder of the JOOL Group, owner of ESS-ENN Timber.

ESS-ENN Timber is a Swedish wood manufacturer focusing on glued laminated timber as well as sawn and planed wood products. For the 2023 fiscal year, the company had a turnover of approximately SEK 260 million and reported an operating profit of approximately SEK 8 million. Going forward, ESS-ENN Timber will continue operating its existing business in sawn and planed wood products.