Back PONSSE services in Oregon transferred to PacWest Machinery
PONSSE services in Oregon transferred to PacWest Machinery
Ponsse Plc, Other information published based on stock exchange rules, 1 September 2023 at 8:30 am (EEST)
Ponsse Plc has completed an asset item transaction related to its business activities in Oregon. On 7 August 2023, Ponsse announced that it has signed a deed of sale, in which it undertook to sell its maintenance service operations in Coburg, Oregon, in the US to PacWest Machinery (hereinafter referred to as “PacWest”).
The transaction included the service centre in Coburg and its machine and spare parts stocks owned by Ponsse North America, Inc, Ponsse’s subsidiary in the US. At the same time, Ponsse North America Inc. signed a retail agreement with PacWest.
The conditions set for completing the transaction have been met, and the transaction was completed today. PacWest will be responsible for the sale and maintenance of PONSSE forest machines in the states of Oregon, Washington and Idaho on the West Coast of the United States. Ponsse North America Inc. continues to provide PONSSE sales and service in the other states together with its other retailers Chadwick-BaRoss Inc and Kleis Equipmentin LLC. Ponsse ensures the positive continuation of local business activities in close cooperation with PacWest employees and regional customers.
The transaction price was not made public by the parties’ mutual agreement, and the price has no impact on the measurement of Ponsse’s value.
Vieremä, 1 September 2023
President and CEO
Juho Nummela, President and CEO, tel. +358 400 495 690
Nasdaq OMX Helsinki Ltd
Ponsse Plc specialises in the sale, production, maintenance and technology of cut-to-length method forest machines, and is driven by a genuine interest in its customers and their business operations. Ponsse develops and manufactures sustainable and innovative harvesting solutions based on customer needs.
The company was established by forest machine entrepreneur Einari Vidgrén in 1970 and has been a leader in timber harvesting solutions based on the cut-to-length method ever since. Ponsse is headquartered in Vieremä, Finland. The company’s shares are quoted on the NASDAQ OMX Nordic List.