The Ziegler sawmilling group, one of Europe’s largest wood enterprises, is filing for insolvency, according to a media report in OberpfalzECHO.
The German media title OberpfalzECHO reported that the holding company of Ziegler filed for insolvency on November 20.
Ziegler’s growth has accelerated in recent years to become one of Europe’s leading wood products manufacturers. OberpfalzECHO says a 2022 annual report shows the company’s liabilities to banks amounted to €326m. The paper says it understands talks are being held with potential investors for individual areas of the business.
Ziegler processes about 2.2 million m3 of wood annually, with mill facilities including in Germany, Romania and Sweden. Two sawmills were acquired in Sweden in 2022, while a sawmill in Sebes, Romania was added in 2023.
This story will be updated as further information is confirmed.
