THAILAND - With the goal of further strengthening its own market position in Asia, the Egger Group acquired a 25.1% stake in the Thai wood-based material manufacturer Panel Plus Co., Ltd.

The purchase agreement was signed on 30 November 2023 and the closing took place on 3 January 2024. The parties have agreed not to disclose the purchase price and further details of the transaction.

Sustainable international growth is an essential part of the Egger's Group's strategic agenda. In addition to the production and distribution of its products in Europe and America, where the family company is represented with a total of 22 production plants, the Asian market is playing an increasingly important role.

Panel Plus Co., Ltd. was founded in 1990 and today produces a wide range of wood-based materials such as Particleboard and MDF boards, both laminated and unlaminated. The main production plant is located in Hat Yai in the southern Thai province of Songkhla. There is a raw chipboard line, two MDF lines as well as in-house impregnation units and ten lamination lines. A large proportion of the energy required comes from the company's own biomass power plants. In total, approx. 800 employees at Panel Plus produce a total volume of 800,000 m3 wood-based materials per year.