StatoilHydro and the Swedish company EcoHeating AB entered into an agreement today on the sale of Statoil's wood pellets business in Norway and Sweden.
StatoilHydro has enterted into an agreement with the Swedish company EcoHeating AB on the takeover of its wood pellets business in Norway and Sweden. The Danish business is not affected by the transaction. (Photo: StatoilHydro)
The sale of the business to EcoHeating gives good prospects for further development of the pellets operations.
"We have been successful in building up the wood pellets business to the level it is at today, and we are pleased with EcoHeating as the buyer. EcoHeating AB have the best qualifications to further develop the pellets business, and make wood pellets an even more important energy source than it is today," says Tom Borgersen, sales director of Statoil Norway.
The sale comprises Statoil's wood pellets factory in Brumunddal in Norway and Säffle in Sweden, as well as sale of remote heating and pellets to customers with their own energy plants. EcoHeating AB is taking over four employees at the Norwegian pellets factory in Brumunddal and 20 employees from the Swedish pellets operation.
"EcoHeating AB have the best qualifications to develop the business", says Tom Borgersen of Statoil Norway. (Photo: Øyvind Hagen, StatoilHydro)
"Through this buyout, EcoHeating is strengthening its position within environmentally-friendly solutions for heating homes, instutions and commercial buildings. Statoil's over 50 remote heating plants will give us excellent opportunities to develop our remote heating concept and larger plants in both Norway and Sweden," says Per von Wowern, chairman of the board of EcoHeating AB.
Statoil has a market share of around 5 percent in Sweden, which is the world's largest market for wood pellets, accounting for some 1.7 million tonnes.
In Norway StatoilHydro is the largest supplier of wood pellets with over 50 percent of the total market, which is around 35,000 tonnes.
The takeover will take place on October 1. The value of the transaction has not been made public. The wood pellets business in Denmark is not affected by the sale.
For further information, please contact:
Stefan Landgren, Managing Director EcoHeating AB, mobile +46 705 227300 stefan@narvarme.com
Knut Hilmar Hansen, spokesperson, StatoilHydro, mobile: +47 917 38053
knusen@statoilhydro.com
