SCA to acquire 13 100 hectares of forest land in Latvia
Sweden-headed forest industry major Svenska Cellulosa Aktiebolaget (SCA) has announced that it has signed an agreement with Isnaudas Forest Holding AB to acquire forest land in Latvia. The acquisition comprises an area of 19 150 hectares (ha), of which 13 100 ha is forest land. The purchase price is EUR 44.5 million.
According to a statement, the standing timber volume amounts to 1.8 million m3fo. Some areas of the acquired land that are not forest, will be divested. The acquisition is expected to be closed in the fourth quarter of 2020.
SCA has so far acquired 30 000 ha of forest land in Estonia and Latvia.
We have the ambition to grow as a forest owner in the Baltic states. The Baltics is a natural part of our raw material base and our operations there are strengthened by our own forest holding in the region, said Jonas Mårtensson, President Forest at SCA.