Nordic Business Report-December 21, 2006-Setra Group AB expands in northern Sweden, acquires Rolfs Sag & Hyvleri AB (C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com Swedish wood products group Setra Group AB said on Thursday (21 December) that it has agreed to acquire privately-owned integrated sawmill and wood processing company Rolfs Sag & Hyvleri AB. Rolfs Sag & Hyvleri, based in Kalix in Sweden, has some 80 employees and an annual turnover of approximately SEK200m. "Our expressed aim is to grow through a higher value-added content. Rolfs Sag provides a strategic complement to Setras operations in northern Sweden, in terms of both skills and capacity for increased value added," said Kent Torwald, president and CEO of Setra. "This acquisition strengthens our position within value-added processing. We will also gain access to a smooth-functioning purchasing organisation for local raw material," Torwald added. The purchase price was not disclosed. Setra, headquartered in Solna in Sweden, produces and sells wood-based products and solutions to construction and industrial customers. The group has 1,400 employees and a turnover of approximately SEK6bn. One British pound (GBP) is worth approximately 13.49 Swedish kronor (SEK). ((Comments on this story may be sent to [email protected]))