In Latvia, CETSCA and Latvian Forest Company have signed a Letter of Intent (LoI) for Sweden-headed forest industry major SCA to acquire 10 000 hectares (ha) of forest land.
Latvian Forest Company owns and runs a number of forest farms in Latvia. The purchase-sum would amount to approximately SEK 260 million (≈ EUR 26 million).
We see the Baltic states as part of the base for SCA’s raw material supply. 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, said Jonas Mårtensson, President SCA Forest.
The Letter of Intent is not binding for the parties.