Pervanovo, Majority Owner of Välinge, Acquires Veneer Manufacturer

Viken, Sweden, June 2, 2021-Pervanovo Invest, majority shareholder of the Välinge group, has acquired 98% of the shares in the Croatian company, Spacva d.d. in Vinkovci.

Spacva has 850 employees and is one of Europe's largest manufacturers of oak veneers.

Following the acquisition, Pervanovo will become Croatia's largest wood processing company with 1,700 employees and five production units. Pervanovo's two Croatian veneer companies- Bjelin Otok and Spacva d. d.-located on the edge of Europe's largest continuous oak forest, Spacva Forest, has a production capacity of 25 million m2 of oak veneer, meaning Pervanovo has become Europe's largest manufacturer of high-quality FSC-certified oak veneers for the flooring and furniture industry. In a few years the main part of the oak veneer will be used internally to produce hardened wooden floors in Viken, Sweden, and in Ogulin, Croatia according to the patented Woodura technology developed by Pervanovo's subsidiary Välinge in Viken.