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2012-06-01

HAWITA Group takes over Nordtorf

The HAWITA Group, with headquarters in Vechta, Germany, took over 100% ownership of Latvian substrate producer SIA Nordtorf at the beginning of the week. Simon Tabeling, Managing Partner of the HAWITA Group, justified the takeover by saying: "This is a big step we are taking to secure peat resources for the decades ahead and to ensure further strategic development for our company."

The HAWITA Group was already a Nordtorf shareholder. Former joint partner, Bernhard Steingröver, will remain with the company as Managing Director. Sales will now be fully managed from Vechta in Germany.

600,000 cubic metres sales volume

Nordtorf produces substrates in Latvia for garden and landscape design. Its products are sold across the world. The company has over 3,000 hectares of land for peat extraction and its own production sites in Akniste, and, since January 2012, in Cesvaine. The current average sales amount of peat and substrate products is 600,000 cubic metres annually, and this is expected to rise to roughly one million cubic metres.

Managing Partner, Simon Tabeling, gives his assurance that this natural resource will be handled responsibly and carefully, including in the new HAWITA production sites. Peat reserves in the Baltic states are expected to last for more than 50 years.
Nordtorf has 250 employees, and they will all be taken over by the HAWITA Group. Turnover in 2011 was approximately 13.5 million euros.

(Foto: The production sites in Akniste; Copyright: HAWITA Gruppe)

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