The internationalisation of Sonae Indústria: Case 316-0003-8

This case describes the internationalisation of Sonae Indústria from initial exports in the 1970s to its current position as the world’s fifth largest wood based panels producer. In between these milestones, the company grew through acquisitions to become the Iberian leader in 1996 and the world leader in 1998. It achieved record results in 2007,
but since then it has been downsizing. Its strategic performance has been cyclical, including a turnaround in 1995 and another in 2004. In particular, the company had to
manage processes of post-acquisition and multinational integration. In addition, it had to cope with the international concentration of its industry and unprecedented economic recession. The case thus illustrates the strategic challenges of transforming a Portuguese company into a multinational corporation. For the current management team the main priority is to achieve the third turnaround of the company since 1991, following a negative cycle since 2008.