SCA acquires 10,000 hectares of forest land in Latvia
April 8, 2019
LATVIA (News remease) -- SCA has acquired Latvian Forest Company's forest and land assets in Latvia, in total 10,000 hectares. The price is SEK 260 million (€ 26,2 million).
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 metres.
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 acquired the subsidiaries of Latvian Forest Company that own the actual forest and land resources. The acquisition was closed on April 8 2019.
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