Versowood to acquire pellet factory in Finland

Neova Oy's subsidiary Vapo Terra Oy and Versowood Oy have agreed on a business sale and purchase agreement whereby Vapo Terra sells the Turenki pellet factory to Versowood Oy. The parties have agreed that the purchase price will not be made public. The parties have also tentatively negotiated a deal in which Vapo Terra would sell the Vilppula pellet factory’s production machinery to Versowood in 2025, should the factory’s raw material and drying energy run out. "With today's asset deal, we are strengthening our pellet business. The Turenki factory has long been an important ...