GERMANY - Following the announcement by Saviola to take over half of the shares in Nolte Holzwerkstoff GmbH & Co. KG, which is owned by the Nolte family, the closing was signed on Wednesday, June 10, 2020.

This next step creates Rheinspan GmbH & Co. KG and with the signed closing the Saviola Group becomes a partner in the company. The joint management of the company by the two partners begins in form and content. This trajectory has been made possible in the past few months thanks to the close cooperation between the two companies by implementing a jointly developed three-year business plan with a future vision.

The Saviola Group is the leading chipboard company in Italy and the world's most important wood recycler with 13 plants and 1,500 employees, divided into four business areas (Saviola - Wood, Sadepan - Chemical, Composad - Furniture and Saviolife - Lifescience). The Saviola Group is internationally known as the inventor of 100 percent recycled chipboard.

Nolte Holzwerkstoff, now known as Rheinspan, is the oldest family-owned particleboard manufacturer in the world with 69 years of experience in the industrial manufacture of particleboard. The first particleboard from Nolte Holzwerkstoff was produced in Rheda-Wiedenbrück in 1951, and since 1972 the company has been operating in Germersheim, Rhineland-Palatinate. Nolte Holzwerkstoff develops and produces particleboard for different customer needs. The previous brand name "Rheinspan" becomes the new company name. The fourth generation family-owned company currently employs around 200 people at its Germersheim location.