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Unilin Group announces the planned acquisition of French Panneaux de Corrèze. The acquisition is part of Unilin Group's strategic growth ambition and will enable its Unilin Panels division to better serve the French market. Panneaux de Corrèze produces approximately 150,000 m3 MDF boards. The factory is located in Corrèze in central France and employs 110 people. The company is the French market leader in MDF and is known for its top quality MDF panels, strong brands and innovation in sustainability. The acquisition will be fully completed by early November.
Unilin Panels, the panels division of Unilin Group, is a European market leader and already has 1 French production unit for MDF panels with its site in Bazeilles. This acquisition will increase the production capacity for MDF panels and strengthen its position in France. This will allow Unilin Panels to offer the most qualitative, innovative and complete range of MDF products to the French market and to serve this market even faster and better. In addition, the acquisition fits perfectly with Unilin Group's sustainability strategy. Panneaux de Corrèze, with its Next range, has a lot of know-how around reducing fossil resources in the production of board material.
All Panneaux de Corrèze employees join Unilin Group and the existing structures are maintained. The current management of Panneaux de Corrèze will also remain active and will help manage the integration.
Veronique Hoflack, President of Unilin Panels, comments on the acquisition: "Our ambition at Unilin Panels is to achieve 25% growth by 2025. We want to become the market leader in Belgium, the Netherlands and France. With the acquisition of Panneaux de Corrèze in France, we will offer our customers an even wider range, deliver new product innovations and further improve our services. This will allow us to do our part to create a stronger and more sustainable future for both our own employees, and for our customers in the interior design and construction industry in France."
Philippe Mocaer, President of Panneaux de Corrèze, responds enthusiastically: "Our company was looking for a strong industrial and commercial partner to continue our growth. Unilin Group is a dynamic company, with a lot of know-how willing to invest in innovation. The integration of Panneaux de Corrèze into Unilin Group will allow us to develop our offer both qualitatively and quantitatively. We are therefore delighted to join forces with Unilin Group to better serve the market."
Bernard Thiers, CEO of Unilin Group, concludes, "Panneaux de Corrèze consists of a particularly strong team. I am particularly delighted to welcome just over 100 new colleagues to our group. We are determined to strengthen our position in France. This agreement and the will to share our know-how and skills on both sides are an important step forward in this regard.”
