SCA Acquires 10,000 Hectares of Forest in Latvia
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Latvian Forest Company owns and runs a number of forest holdings in Latvia. The assets comprise 7,600 hectares of productive forest land, 2,000 hectares of farmland and 800 hectares of other land. The standing timber volume amounts to one million cubic meters.
Some of the other land assets are also suitable for conversion to forestry.
"We have been in the Baltic states for a long time as a buyer of timber", says Jonas Mårtensson, President Forest."The Baltic states are a natural part of the base for our raw material supply and our operations there are strengthened by a forest asset of our own. We may well consider more acquisitions of forest land in the Baltics."
SCA (Sweden) acquired the subsidiaries of Latvian Forest Company that own the actual forest and land resources. The acquisition was closed on April 8 of this year.
