Strength in togetherness

The flooring company Tarkett and Sonae Industria, a manufacturer of wood panels that also operates in Europe, have agreed to set up a joint venture for the production and marketing of laminate flooring in western Europe, Africa, Asia and Oceania. The joint venture, in which both partners have a 50 per cent stake, includes Sonae Industria's facility at Eiweiler, Germany, where the company produces wood panels. This is to be extended to include the manufacture of laminate flooring. The joint venture still has to be approved by the appropriate EU cartel authority.