Pervanovo acquires Croatian furniture maker Spin Valis
Pervanovo, the guardian company of Bjelin industries in Croatia and Välinge Group in Sweden, has through its subsidiary Välinge Croatia signed an arrangement to get 85% of the shares in the Croatian home furnishings company Spin Valis. The intention is to get 100% of the shares. The acquisition means that significant-scale production and marketing of furniture with Välinge’s click technologies can be obtained a lot quicker than initially prepared and the availability of oak materials will increase. The acquisition calls for approval from the antitrust authorities. Spin Valis will be renamed Bjelin Spinvalis.
Spin Valis is one particular of Croatia’s greatest makers of strong oak home furniture. Generation also contains factors, glued good boards and energy primarily based on bioenergy and photo voltaic panels. Spin Valis in Požega, Croatia, has 420 employees.
Darko Pervan, owner and CEO of Pervanovo Make investments AB, claims: “We are pleased that we have now completed our fifth acquisition in Croatia. Major investments in new engineering, buildings and machinery have been created at all creation facilities. With our new facility in Ogulin, in which we are developing the major wood flooring factory in Europe, our Croatian team of companies will be pretty efficient and aggressive, in particular in oak-dependent goods. Spin Valis and all our other Croatian providers are really profitable. The acquisition of Spin Valis will enhance our revenue in Croatia by Euro 30 million to 170 million and our functioning consequence for 2022 will exceed Euro 40 million. Our intention is to proceed building Spin Valis as a top quality furnishings producer and jointly with our furniture manufacturing at Bjelin Spacva, our purpose is to turn into a person of the leading furniture manufacturers in Europe in our industry.”
“The takeover of Spin Valis will noticeably boost our manufacturing and profits, and the variety of workers will enhance to a complete of 2,200. Our investments in Croatia have developed hundreds of new careers so much, and all our amenities are very modern and successful. Coordination of generation and profits will significantly boost profitability, specifically when it arrives to oak merchandise this kind of as stable home furnishings, 3-layer parquet, lamellas, veneer, factors, and glued panels but also pellets and briquettes for bioenergy. We now keep a robust posture on the European market of oak merchandise, and it will reinforce even a lot more when our new investments in the production of wooden flooring with Woodura-coverings and in new veneer output capacities in Bjelin Spačva and Bjelin Otok turn out to be operational for the duration of 2023 and 2024. It is also significant to level out that with the acquisition of Spin Valis, we are strongly coming into the generation of inexperienced electrical energy and thermal strength, which will even further lead to the sustainability of our solutions,” says Stjepan Vojinić, CEO of Bjelin Industries.