Door manufacturer Dortek of County Wicklow, Ireland, buys 94.05% stake in Slovenian particleboard manufacturer Lesna Tip, hopes to purchase remaining shares
October 12, 2011
– Door manufacturer Dortek of County Wicklow Ireland, which has a manufacturing facility in Johor, Malaysia, has purchased a 94.05% stake in particleboard manufacturer Lesna Tip.
Dortek made the purchase through its subsidiary Miador, according to a report by German industry news service Euwid.
Lesna Tip is located in Dravograd, northern Slovenia, and has been owned since 2002 by the Prevent Global group in Slovenia, which filed for bankruptcy on Aug. 3 last year. The sale of Lesna Tip is part of the sell-off of Prevent's bankruptcy assets.
According to media reports from Slovenia, Prevent Global's administrator Boris Kastivnik held talks with two Slovenian and two foreign potential buyers before announcing that Dortek's bid had been successful.
The reports said that Ikea's subsidiary Swedspan had considered acquiring the plant and continuing to produce particleboard there, but withdrew its interest after concluding that parts of the complex would require modernization, and sourcing wood for the plant would present problems.
Dortek plans to aquire the remaining shares in Lesna Tip, which are held by small shareholders and a subsidiary of Prevent.
The primary source of this article is Euwid Gernsbach, Germany, on Oct. 11, 2011.