Svenska Cellulose (SCA) is one of Europe’s largest private forest holding companies and it has acquired Latvian Forest company’s forest and land assets in Latvia, in total 10 000 hectares for €26,2 million. The Latvian Forest Company owns and runs a number of forest holdings in Latvia. Source: Timberbiz
SCA produces paper, pulp and wood products and it has been buying timber from the Baltic countries for many years and it was suggested that this next step was logical.
The assets comprise 7600 hectares of productive forest land, 2000 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,” Jonas Mårtensson, of President of Forests at SCA said.
“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.