The Commercial Court of Mont-de-Marsan has approved Monday the takeover of  plywood manufacturer, ROLPIN, in receivership since June by Japan's Nankai Plywood, who should keep 116 of the 143 workers.

The publicly traded Japanese family group, who had already bought Mourenx (Pyrénées- Atlantiques) a subsidiary of ROLPIN, and Rolkem (impregnated papers - 26 employees), is committed to inject almost € 8 million over the next two years, including a € 5.7 million investment to upgrade the industrial tools.

Under its takeover offer, Nankai should also bring € 2.1 million to help finance the existing drying room, which was not finalized.

The buyer plans to keep 116 employees on site, of the total 143 workers, with seven having the possibility of re-qualification.

The company will change its name, to NP ROLPIN, in order to redeemed ROLPIN assets. The management should remain in place.

For Japanese family group, it is the first acquisition in Europe.

Ultimately, the goal is to focus on the French market, more attractive to sell the company's products, and exports, which accounted for 50% so far of its activity.