Viken, Sweden-based Pervanovo Invest AB and its subsidiaries in Croatia have acquired 98% of the shares in Spacva d.d. in Vinkovci, Croatia, one of Europe's largest manufacturers of oak veneers.
Spacva has 850 employees. Following the acquisition, Pervanovo said it 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 square meters [269 million square feet] of oak veneer. In a few years, the main part of the oak veneer will be used by the company to produce Valinge hardened wood floors in Viken, Sweden, and in Ogulin, Croatia.
“There is a shortage of oak, and the acquisition will double our oak supply," said Darko Pervan, CEO, Pervanovo Invest AB. "With our new Woodura technology, we can manufacture 10 times more hardened wooden floors from an oak log than when conventional technology is used. Through the acquisition, we have now secured all the oak veneers that we need to become Europe's leading wood flooring company with a production exceeding 20 million square meters.”