Siparila Oy, Finland's leading manufacturer of pre-painted interior and exterior cladding panels, is to merge its business with Thermory AS of Estonia. The merger will create a global wood products company with a projected turnover of more than EUR 100 million and a combined annual production of up to 160 000 cubic metres.

Thermory is the world's leading chemical-free wood processing company, founded in Estonia in 1997. The company manufactures solid wood flooring and decking, lining boards and sauna materials using a heat treatment process. The company has production facilities in Estonia, Finland and Belarus, and two sales offices in the USA. Thermory employs 550 people worldwide. The transaction will increase the company's production capacity at Siparila's four production sites in Finland and add 130 employees.

For Siparila, the deal means new opportunities in international export markets and access to Thermory's extensive distribution network. According to Johann Sulling , CEO of Thermory, the acquisition will enable the development of more highly processed wood products that are in demand on the global market.

"Thermory exports its products to more than 50 countries. Nordic wood is able to replace hardwood species used in many markets that have been felled from endangered tropical forests," says Sulling.

Siparila will continue to operate in Finland with its current operational model and under its current brand. Siparila's owner Juha Sojakka will work closely with the company and continue in his role as Siparila's CEO. According to Sojakka, the cooperation with Thermory will enable Siparila to grow faster internationally.

"Interest in Nordic timber is greater than ever. By working together, we are combining the best of both companies: Thermory's expertise in the manufacture of thermal wood products and our know-how in the surface treatment of wood products. Together, we will be able to offer responsible and sustainable solutions for the construction industry to international markets," Sojakka adds.

Thermory AS is a leading Estonian manufacturer of Thermally modified wood and sauna materials, established in 1997. The company has production facilities in Estonia, Finland and Belarus and sales offices in the USA. The company employs 550 people and has an estimated turnover of EUR 70 million in 2019, 90% of which will come from exports.

Siparila Oy is a leading woodworking company that offers building solutions designed for indoor and outdoor use. Founded in Finland in 2003, the company has four production sites and employs 130 people. Siparila has an annual turnover of around EUR 35 million, of which around 30% comes from exports.

More information:

Juha Sojakka, Managing Director
Tel. 044 333 4610

Johann Sulling, Managing Director