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The transaction does not include StatoilHydro's wood pellets business in Denmark.
The sale covers StatoilHydro's wood pellets factories in Brumunddal in Norway and Saffle in Sweden, as well as sales operations. A total of 24 StatoilHydro employees will transfer to EcoHeating.
The business to be transferred represents a 50% share of the Norwegian wood pellets market of 35,000 tonnes, and 5% of the total Swedish market of 1.7m tonnes.
StatoilHydro, headquartered in Stavanger, Norway, is an international oil and gas E&P company with operations in 40 countries. The company has some 29,000 employees and proven reserves of over 6bn barrels of oil equivalent.
Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com
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