Schweighofer www.schweighofer.at, one of the leading wood processing companies in Europe, is stopping its Romanian forestry investment and selling its full subsidiary Cascade Empire srl (Cascade Empire) and its forest management unit Ocol Silvic Cascade Empire srlto the Swedish company GreenGold Grouphttp://www.greengold.se/. The Contracting Parties have agreed to not disclose the price of this transaction and the details of the contract. Cascade Empire’s forest areas total 14,283 hectares situated in the Romanian regions of Hunedoara, Gorj, Valcea, Prahova, Buzau, Neamt and Suceava. Cascade Empire acquired the forests in the period between 2003 and 2011 and today employs 19 people, including the staff of the forest management unit: all the employees will be taken over by the new owner. The Schweighofer group continues to support sustainable forestry. Holzindustrie Schweighofer entered the Romanian market in 2003. Today the company manages three sawmills and two panel factories, employs about 3,100 people and has implemented an action plan for a sustainable timber industry in Romania which goes far beyond legal requirements.