FRANCE - Ikea Industry AB, part of the Inter Ikea Group, has accepted the takeover offer made at the end of September by P3G Industries, the Parisot and CFP owner, for the chipboard plant in Lure trading under Ikea Industry France SAS.

Prior to this, the talks with the employee representation office at the Lure location had commenced following the receipt of the offer.

According to Ikea Industry and P3G the deal’s closing should happen very soon. With the offer for the Lure location, P3G had informed of investments of around € 12 million, above which the previously limited processing options at the plant should be expanded.

P3G Industries intends to operate the existing Ikea Industry plant in Lure in conjunction with the chipboard plant of Compagnie Francaise de Panneau (CFP) based in Saint-Loup-sur-Semouse / France, only about 30 km away, making it the second largest wood-based material manufacturer in France. The market share of around 10% achieved so far with CFP will rise to around 22% with the merger. The two plants will supply both the Parisot furniture factories and external customers with chipboard in the future.

The P3G Industries Group, headquartered in Saint-Loup sur Semouse, Haute-Saône, employs some 3,500 people in its 11 plants in France, Eastern Europe and Asia. Specializing in kit furniture (RTA), the group should reach, with this new acquisition, a turnover of 360 million euros.