SCA Acquires Another 10,000 Hectares of Forest Land in Latvia

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Jun 26, 2019, 08:45 ET

STOCKHOLM, June 26, 2019 /PRNewswire/ -- SCA has signed an agreement to acquire Sundin Mezs SIA from the unlisted Swedish company Livland Skog AB. Sundin Mezs SIA owns forest and land assets in Latvia. The purchase price is approximately SEK 260 million (€24.2m) on a debt-free basis.

The acquisition comprises 9 600 hectares, of which 8 500 are forest land. The standing timber volume amounts to 900 000 cubic metres.

Earlier this year SCA acquired 10 000 hectares of forest land in Latvia and 10 000 hectares of forest land in Estonia.

"The Baltic states are part of our raw material base", says Jonas Mårtensson, President Forest."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."

The acquisition is expected to be closed in the third quarter 2019.

For further information, please contact:
Björn Lyngfelt, Vice President Group Communication, +46 60 19 34 98
Jonas Mårtensson, President Forest, +46 60 19 32 58

The core of SCA's business is the forest, Europe's largest private forest holding. Around this unique resource, we have built a well-developed value chain based on renewable raw material from our own and others' forests.
We offer paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions.
2018 the forest products company SCA had approximately 4,000 employees and sales amounted to approximately SEK 18.8 bn (EUR 1.8 bn). SCA was founded in 1929 and has its headquarters in Sundsvall, Sweden. More information at www.sca.com.

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https://news.cision.com/sca/r/sca-acquires-another-10-000-hectares-of-forest-land-in-latvia,c2850977

The following files are available for download:

https://mb.cision.com/Main/600/2850977/1069158.pdf

Press release (PDF)

SOURCE SCA