News | 9
Profitability of UK wood-based panels producers declines amid challenging economic conditions
Europe, driven by high inflation and rising interest rates, had an adverse impact on housebuilding and construction. The negative impact on
Above: West Fraser is a leading supplier of OSB Photo: The Inverness OSB mill
The latest set of financial results for UK panel products manufacturer West Fraser Europe show that its turnover fell by £65m for the year ended December 31, 2024. The results, published
on Companies House in September show that West Fraser Europe’s turnover for the period was £352m (2023: £417m). The company
recorded a loss for the year after taxation of -£12.1m (2023: £4.8m profit after tax). The West Fraser Europe operation includes an MDF and particleboard mill in Cowie, and OSB mills in Inverness and Genk, Belgium. West Fraser said turnover decreased during 2024 as challenging macroeconomic conditions in the UK and
Finsa and Unilin announce Licensing agreement for Unicoat waterproof technology
Finsa and Unilin Technologies have announced that Finsa has signed a licensing agreement to integrate Unilin’s patented Unicoat edge coating technology into their laminate flooring portfolio. Unicoat is a state-of-the-
art water-repellent edge treatment that significantly improves the water resistance of laminate flooring. The technology enables products to exceed NALFA water-resistance standards. Finsa will be implementing the technology across all production lines of their Flooring facility with the support of the Unicoat machinery partner Schiele and coating supplier PTS, ensuring a seamless and high-quality application of the Unicoat
system. “As water resistance
becomes increasingly important for both residential and commercial flooring, this innovation allows us to stay ahead of the curve,” said Estibaliz Jurado, of Finsa’s Flooring team. “Finsa’s adoption of Unicoat
confirms the importance of waterproof performance in the laminate category,” added Floris Koopmans of Unilin Technologies. “We’re proud to support another leading European manufacturer in delivering laminate flooring that meets the highest technical standards, while remaining the only provider of a reliable, sustainable and PFAS-free waterproof coating.”
consumer confidence led to a softening in demand for the company’s products. Profitability fell due to a combination of lower selling prices and increased raw material and energy costs. The average number of
employees at the company reduced to 478 from 646 in 2023.
The wider West Fraser group, based in North America, operates more than 60 facilities in Canada, the US, the UK and Europe. Fellow UK panel product manufacturer Kronospan UK, which produces MDF and particleboard, published its
last set of results in June 2025, relating to the 12 months ended September 30, 2024. The results show revenue during the period had been £309m (2023: £354m), down 12%, while profit before tax was £489,000 (2023: £47.4m). Staff numbers for the period were 677 (2023: 660). Kronospan described the period as competitive due to high interest rates and the elevated costs of living, with selling prices eroded. Kronospan also reported that following years of strategic investments in its UK facilities, investment activity had been reduced. Investment had included the East Road warehouse and automated stories for board and paper, while smaller expenditure was made in new production equipment.
Nankai acquires French plywood producer Joubert Group
Japan’s Nankai Plywood Co Ltd has completed a transaction to acquire French plywood producer Joubert Group. Joubert, founded in 1972,
makes FSC and PEFC-certified okoumé and poplar plywood. The transaction closed in October 2025. The company consists of
a team of 350 employees spread across two factories in France and a peeling site in Gabon. The Joubert Group’s products are sold in 35 countries and used in various applications, including outdoor and indoor fittings, boat building, and recreational vehicle manufacturing. In 2024, Joubert Plywood posted a turnover of €75m. Founded in 1942 by the Maruyama family, Nankai Plywood is a Japanese group
specializing in wooden building materials for interior finishes. The group has a presence in Japan with a production facility and a research centre, as well as an international presence with a subsidiary in Indonesia and two subsidiaries in France. The group is listed on the Tokyo Stock Exchange and employs more than 1,800 people worldwide.
The acquisition of the Joubert Group by Nankai Plywood will allow both companies to merge their expertise and create a global leader.
This partnership will
preserve the shared heritage and values of both groups, which are centred on product excellence and environmental stewardship.
www.wbpionline.com | October/November 2025 | WBPI
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