Austria's Schweighofer Group sells stake in Romanian cogeneration plant

Austria's Schweighofer Group said on Monday that it has sold its 25.1% stake in the Bioenergy cogeneration plant in Suceava, northern Romania, for an undisclosed sum.

The deal, registered with the Trade Register three months ago, was carried out through the group's wholly owned subsidiary Bio Electrica Transilvania, Schweighofer Group said in a press release.

The Schweighofer Group made the decision to sell the shares held in this business in order to focus on its main activity - wood processing.

Bioenergy Suceava supplies approximately 50,000 clients in Suceava connected to the centralized heating system, using biomass to produce heat and co-generate electricity.

The group entered the Romanian market in 2013, through the company Holzindustrie Schweighofer which processes resins used in the manufacturing of building materials and furniture industry panels. By-products are transformed into pellets and briquettes used to heat individual homes and industrial premises.

It operates three lumber and two wood panels factories in Romania, in which more than 2,700 people are employed.

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