SCA wants to Acquire Forest Land in Latvia

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Feb 04, 2019, 08:47 ET

STOCKHOLM, Feb. 4, 2019 /PRNewswire/ --

SCA and Latvian Forest Company have signed a letter of intent for SCA to acquire 10 000 hectares of forest land in Latvia.

Latvian Forest Company owns and runs a number of forest farms in Latvia. The purchase-sum would amount to approximately SEK 260 million (€ 26 million).

"We see the Baltic states as part of the base for SCA's raw material supply", says Jonas Mårtensson, 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."

The letter of intent is not binding for the parties.

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://mb.cision.com/Main/600/2731429/985433.pdf

Press release (PDF)

SOURCE SCA