Annual Report 2019: Iivari Mononen Group strengthened its footing in Norway
The annual report and final accounts of the Iivari Mononen Group were published this week. The company’s steady growth continued as its turnover grew to 74.6 million euros, 24.3% higher than in the previous year. After the last year’s business acquisitions, the Group employs a total of 210 persons in four countries.
The company also improved its profitability despite the challenging economic situation in the sawmilling sector and difficulties caused by the mild and wet winter.
- The production capacity of our pole business was strengthened through our acquisition of Solør AgroTre AS in Norway. Solør AgroTre specializes in the manufacturing of fencing posts and so this acquisition signifies a major step for our fencing post business. The sales of fencing posts grew especially in Great Britain, tells Ari Mononen, CEO of the Iivari Mononen Group.
The company continued its R&D activities and, as a result, a new generation impregnation substance, Copper Oil, was launched at the end of the year. This innovation combines the best qualities of traditional wood treatment and renewable oil.
- We continue to invest in development and actively review our field of business. We stand for wood as a material which has unbeatable benefits such as sustainability, carbon sequestration and consumer values, says Ari Mononen.
The impacts caused by Covid-19 on the company operations have been smaller than expected, as Ari Mononen tells:
- This far, orders and workload have remained at a good level in all the Group’s companies. It remains to be seen if a possible new wave of infections arrives in the autumn, and whether it has negative effects on our business.
Further information:
Ari Mononen, CEO of the Iivari Mononen Group
Iivari Mononen Group is a Finnish family owned enterprise. It consists of three companies: Scanpole Oy operates the pole business, PrimaTimber Oy specializes in impregnated and strength graded timber products, and Exsane Oy provides services for infrastructure networks.
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