HARVIA PLC PRESS RELEASE APRIL 27, 2021 AT 9.00 A.M. EET
Harvia has completed the acquisition of a facility suited for the production of sauna and spa products in Lewisburg, West Virginia, USA. The agreement was subject to normal due diligence and other conditions of closing.
Harvia announced the purchase agreement on February 11, 2021. The facility comprises high-quality production and office space totaling 8,900 m². The value of the transaction is approximately EUR 2.1 million.
The new facility is expected to increase the production capacity of Almost Heaven Saunas by approximately one third, thanks to a new layout and production lines, as well as improved production processes. In addition, the new facility offers an opportunity to increase and diversify production capacity significantly in the future. Production in the new facility is expected to begin in September 2021.