HS Timber to divest pellet distribution company

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HS Timber Group announces the sale of PelletsOne GmbH to RWA Raiffeisen Ware Austria AG. The closing for the purchase was completed on 20 January, 2023 following approval by the relevant competition authority. The parties agreed not to disclose the contractual details.

PelletsOne is a direct sales company for pellets in Austria, based in Wiener Neustadt, which has so far exclusively sold pellets from HS Timber Group. HS Timber Group will concentrate only on the production of pellets. These are produced exclusively from the sawmill by-products generated in the group's sawmills.

HS Timber Group is a traditional wood processing company with Austrian roots and strong roots in Central and Eastern Europe, especially in Romania. The company processes timber in Germany, Finland and Romania and supplies industrial customers all over the world.

RWA is active as a producer, service provider and trader in the business areas of agriculture, technology, energy, building materials and home & garden. As the umbrella organisation of the warehouse cooperatives in Austria, RWA provides them with a comprehensive range of services in the above-mentioned areas