FRANCE - Wood flooring and panel producer Kronospan Group has indicated its intentions to acquire two Isoroy panel plants in France. The proposed purchase of the Auxerre (chipboard) and Le Creusot (thin MDF) plants would include the transfer of assets and employees.
Headquartered in Antony (Paris), France, Isoroy is an indirect affiliate of Sonae Indústria SGPS SA. The proposed purchase price was not disclosed in the January 6 announcement.
Sonae, which is the parent company of Tafisa Canada, acquired Isoroy in 1998.
In a statement, Sonae said Isoroy has begun the "process of informing and consulting its employee representatives in relation to such potential transaction, as well as the subsequent downsizing of the headquarters located in Antony, Paris. The decision on this offer will only be taken after the completion of the information and consultation procedure on this potential transaction."
According to its website, Kronospan already has more than 30 wood-based panel manufacturing sites located worldwide for the production of particleboard, MDF, OSB as well as laminate flooring. The U.S. facility is located on a 460-acre site in Calhoun County, AL.
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