Bergs Timber recently announced investments of SEK 8.5m in Wood Tube, thereby becoming a shareholder and an industrial partner of the company. Wood Tube has also started its first commercial construction project.
With its innovative climate-smart paper wall studs, Wood Tube has reaped repeated success lately. In a recent press release, they revealed that Vasakronan (Sweden’s leading property company), in collaboration with major construction company Veidekke Sweden, is the first to include Wood Tube’s paper studs in new buildings. The project is the Strömshuset building in central Gothenburg, where new offices are being created, made completely of wood.
”Here at Veidekke, we have a positive attitude to innovation, particularly to innovation linked to reduced climate impact. In our strive to constantly reduce our climate impact, we’re especially happy to test a product with significantly less impact on the climate, but also having improved characteristics in terms of working environment for our employees and suppliers,” says David Grimheden, technical and environmental manager at Veidekke Entreprenad AB.
New factory in Säffle
Another recent piece of news is that Bergs Timber, by way of an investment totalling approximately SEK 8.5m (about EUR 840,000), will enter as a shareholder and an industrial partner of Wood Tube.
In this phase, that ensures the financing of a facility for the industrial production of studs. Bergs receives a 25-percent share of Wood Tube and will actively work to develop the company together with other partners and employees. This business engagement is fully in line with Berg’s aim to develop and refine sustainable products from forest raw materials.
“We see great potential for Wood Tube where not only studs, but also other applications, may play an important role in construction projects of the future. As a long-term owner, we’re going to develop this into a successful company, together with Wood Tube,” says Peter Nilsson, CEO of Bergs Timber AB.
Wood Tube has developed a patented paper stud for the fabrication of interior walls and furniture frames. The studs, made from paper raw material, will be an alternative to studs made of steel or wood. The product enables more climate-smart construction, reduces building costs and improves the working environment for the carpenters. After a period of product development, certification and securing of patent protection, the company is now ready for a more commercial phase.
“Bergs will make a very stable partner, both financially and market-wise. They’re used to developing companies, they have important channels to the market we want to focus on, and they hold expertise in industrial processes, which we believe will be valuable during our continued expansion phase,” says Tobias Söderbom Olsson, CEO of Wood Tube Sweden AB.
Read more about Wood Tube here
About Bergs
The Bergs Group is international, consisting of a group of independent subsidiaries. Each one having clear responsibility for results, they develop, produce and market processed wood for various applications. With many years of experience in wood and with great expertise in further processing, Bergs contributes to building a sustainable society based on renewable raw materials from sustainably managed forests in the Baltic region.
Its business is conducted in Sweden, Estonia, Latvia and the United Kingdom, and customers are found in about 20 countries. The main markets are Scandinavia, the Baltics, the United Kingdom and France. The head office and group management are based in Sweden. The company’s share has been listed on Nasdaq Stockholm since 1984.
