Binderholz takeover sparks fear and hope in Kuhmo

The sale of Kuhmo Oy to Austrian wood-processing group Binderholz has raised both concern and optimism in Kuhmo, Yle reports. The biggest uncertainty is what the new owner plans for the sawmill and the businesses that depend on it.

The industrial area surrounding the Kuhmo sawmill is filled with neighbouring halls, where companies are now considering what the sale will mean for their own operations.

For transport entrepreneur Markku Kemppainen, deliveries of timber to Kuhmo Oy make up a significant part of his business. He said the news had stopped him in his tracks.

“Everyone is worried about Kuhmo’s future,” Kemppainen said.

He does not know how the deal will affect his company. His son is already involved in the business, but Kemppainen is unsure whether it will have a future in Kuhmo.

“You do not even dare think about what a death blow it would be to this city if the sawmill were closed,” he said.

Binderholz Nordic began restructuring talks at its sawmills in Lieksa and Nurmes in July. The talks were prompted by rising prices resulting from wars and conflicts.

Foreign companies have bought several Finnish sawmills in recent years, so the possibility of a sale was not entirely unexpected in Kuhmo. Kemppainen said he had been slightly afraid of such a development.

When the sawmill was locally owned, cooperation was easy, he said. Some people are concerned that the arrival of a large group could change Kuhmo’s business culture and the way companies work together.

However, Kemppainen also sees opportunities. After considering the matter for several days, he said he had become more calm about the sale.

“The sawmill is operating and in good shape. That is a good thing,” he said.

Kuhmo’s business development manager Pekka Horttanainen also views the takeover positively. He said the sawmill would have a new owner with extensive connections, a broad market and substantial resources to develop its operations.

Horttanainen said the deal could also benefit Woodpolis, Kuhmo’s wood products industry centre. He sees opportunities to develop the processing of by-products such as bark, wood chips and sawdust, potentially creating new processing operations, jobs and businesses in the city.

At the same time, Horttanainen acknowledged that Kuhmo Oy could leave a gap in the community. The company has been involved in developing local associations and supporting events, activities that could also be affected by the change in ownership.

For Marko Appelgren, the owner of Laatulastu, which produces animal bedding, the takeover looks more like an opportunity. Binderholz has supplied his company with materials for eight years.

“It came as a bit of a bombshell, of course, but after thinking it over, I see it more as an opportunity for Kuhmo. There are now broader shoulders to operate with,” Appelgren said.

From his company’s perspective, the change could make material deliveries easier because Binderholz will also operate in Kuhmo. Appelgren said his company had not experienced any problems with Binderholz during the past eight years.

The entire share capital of Kuhmo Oy is being sold to Binder Beteiligungs AG, part of the Binderholz group. The Austrian company is also buying all shares in property company Juntinsalo Oy.

Binderholz is an Austrian wood-processing group with more than 60 years of history. It operates in Austria and Germany, as well as in Finland through Binderholz Nordic Oy.

The group expanded in Finland in 2016 by buying all shares in Vapo Timber Oy, including its operations in Lieksa and sawmills in Nurmes. In 2017, it bought a glulam and planing line in Lieksa, expanding into further processing. Binderholz also has its own timber procurement unit in North Karelia and Savo.