ESTONIA (News release) -- SCA acquired 93% of the shares in Forestum Group AB, a Swedish company which owns forest and land assets in Estonia, totalling approximately 10,000 hectares. The purchase price is SEK 420 million (Euro 39 million) on a debt-free basis.
"We have the intention to grow as a forest owner in the Baltics", says Jonas Mårtensson, President Forest. "The Baltic states are a natural part of our raw material supply base and we have been present in the market for a long time as a buyer of timber. Having our own forest resource strengthens our operations in the region."
Forestum has an Estonian subsidiary which owns 10,300 hectares of land on the islands of Dagö and Ösel. 8,800 hectares of this land is forest land with a standing volume of 1,300,000 cubic metres.
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