The Egger Group is to take over the Russian particleboard manufacturer Gagarinskiy Fanerniy Zavod at Gagarin, 150km west of Moscow by the end of June.
The contract was signed on May 20 and the purchase price was not disclosed.
The acquisition of the Russian particleboard producer was carried out subject to the approval of Russian cartel authorities.
The Gagarin site includes a raw particleboard line with a capacity of 500,000m3, a further processing capacity of 20 million m2 as well as a forest company with about 80,000ha.
The take-over will allow Egger to nearly triple its production capacity in Russia.
