SCA acquires another 10 000 hectares of forest land in Latvia
Sweden-headed forest industry major SCA has announced that it 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 (≈ EUR 24.2 million) on a debt-free basis.
According to a statement, the acquisition comprises 9 600 hectares (ha), of which 8 500 are forest land. The standing timber volume amounts to 900 000 m3. Earlier this year SCA acquired 10 000 ha of forest land in Latvia and 10 000 hectares of forest land in Estonia.
The Baltic states are part of our raw material base. 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, remarked Jonas Mårtensson, President Forest, SCA.
The acquisition is expected to be closed in the third quarter 2019.