Mercer International, a wood products provider, completed the acquisition of Holzindustrie Torgau, a wood processing company from Deutsche Bank, a financial service provider, and Orchard Global, an investment manager, for $275m. "We are very excited about the acquisition of HIT and the expansion of our solid wood operations in Germany. I want to welcome all of the HIT employees to the Mercer team. We look forward to integrating HIT and furthering our goal to operate world class operations. Additionally, I am excited about the expansion of our product mix with the introduction of pallets and biofuels and look forward to working with HIT's strong customer base and enhancing its market position," Juan Carlos Bueno, Mercer CEO.