Pervanovo Acquires Croatian Veneer Producer Furnir Otok

Viken, Sweden -- Investment company Pervanovo, owner of Välinge Innovation AB, acquired the Croatian veneer producer Furnir Otok from the founder Jozo Jovic. Oak veneer is the most crucial raw material in Woodura, a reinforced wood surface manufactured by Välinge, and the acquisition is aimed to secure supply of sufficient quantities of cost-efficient, high-quality veneer for the expanding production of flooring with Woodura surface.

Välinge has installed high-tech production lines with a capacity of 7 million square meters of powder-based floors with Woodura and Nadura in Viken, Sweden. In 2020, a new production line for Woodura with a capacity of 6 million square meters will be completed in Croatia. The total flooring capacity, including conventional parquet floors, will expand to about 15 million square meters within a few years, which will help the Pervanovo group become one of the major flooring companies in Europe, the company said in a statement. The total investment for this first step is estimated to about €180 million ($209.6 million). One-third of the investment is related to the Swedish activities and the rest to the Croatian activities. After the acquisition of Furnir Otok, Pervanovo will have about 830 employees in Croatia.