Corticeira Amorim SGPS SA (DE:AS4) has released an update.
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Corticeira Amorim has sold its 80% stake in Timberman Denmark A/S and its Swedish subsidiary to the Salix group, part of the Volati conglomerate, for 23.7 million euros. Despite the sale, Timberman will continue to distribute Amorim Cork Flooring products in Denmark and Sweden, aligning with Corticeira Amorim’s new strategy to shift from direct distribution to a distributor model in select markets. This strategic move coincides with the launch of Amorim Cork Solutions in 2025, which will expand on existing flooring and insulation activities.
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