Minority shareholding of Egger in Thai Panel Plus

The main production site of Panel Plus is located in Hat Yai in the southern Thai province of Songkhla.(Source: Panel Plus Co. Ltd.)
The main production site of Panel Plus is located in Hat Yai in the southern Thai province of Songkhla.

With the aim of strengthening its own market position in the Asian region, the Egger Group has acquired a 25.1 per cent stake in the Thai wood-based materials manufacturer Panel Plus Co., Ltd. In addition to the manufacture and distribution of its products in Europe and America, where the family-owned company is represented with a total of 22 production sites, the Asian market is playing an increasingly important role. The purchase agreement was signed on 30 November, with the closing taking place on 3 January, 2024. The purchase price and further details of the transaction were not disclosed, Egger reported in a press release.

"We have been considering expanding our presence in Asia for some time now. In Panel Plus, we have found the ideal partner in this respect," says Thomas Leissing, Egger Group Head of Finance/Administration and Spokesman of the Group Management, explaining the background to the investment decision. Panel Plus has state-of-the-art production facilities and a product portfolio tailored to regional requirements.

Panel Plus was founded in 1990 and today produces a wide range of wood-based materials such as particleboard and MDF in uncoated and coated form. A large proportion of the energy required at the main production site in Hat Yai comes from the company's own biomass power plants. In addition to another production site in Samut Sakorn, further processing capacities are being established in Malaysia and Vietnam. In total, around 800 employees at Panel Plus produce a total volume of 800 000 cubic meters of wood-based materials per year. Panel Plus is a subsidiary of the Mitr Phol Group, a private group of companies whose main business areas include sugar production, renewable energies and wood-based materials production.

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