Joint venture approved

The European Union's competition authorities have now given their approval to the joint venture between Sonae Indústria and Tarkett for the production of laminate flooring in Eiweiler, Germany. It is planned to establish one of the most modern sites for the production of laminate flooring there. It is hoped to start up the test plant as soon as October. "Both partners to the agreement have contributed their know-how to the construction of this site, in an outstanding example of cooperation within the value chain," says Christian G. Schwarz, deputy chairman of Sonae Indústria. The existing Glunz works in Eiweiler will be incorporated into the joint venture, in which both partners have an equal share. Glunz AG is the German subsidiary of Sonae Indústria. The Portuguese group, Sonae Indústria, regards itself as one of the world's major manufacturers of derived timber products, with 35 production facilities in nine countries. Its total workforce of around 5 400 generated sales of almost € 1.5 bn in the 2005 business year.