SCA eyeing acquisition of 10,000 hectares of forest land in Latvia
Monday, February 4, 2019 1:15 pm
LATVIA (News release) -- SCA and Latvian Forest Company have signed a letter of intent for SCA to acquire 10,000 hectares of forest land in Latvia. The letter of intent is not binding for the parties.
Latvian Forest Company owns and runs a number of forest farms in Latvia. The purchase-sum would amount to approximately SEK 260 million (Euro 26 million).
"We see the Baltic states as part of the base for SCA's raw material supply", says Jonas MÃ¥rtensson, President Forest. "We have already an organization for wood procurement in Estonia and Latvia and our operations will be further strengthened by a forest holding of our own."
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