SCA Signs Letter of Intent to Acquire 10,000 Hectares of Forestland in Latvia
Feb. 4, 2019 - SCA and Latvian Forest Company have signed a letter of intent for SCA to acquire 10,000 hectares of forestland 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 (EUR 26 million).
“We see the Baltic states as part of the base for SCA's raw material supply”, says Jonas Mårtensson, President Forest for SCA. “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.”
SCA noted that the letter of intent is not binding for the parties.
Based in Sweden, SCA produces solid-wood products, pulp, kraftliner, publication papers and renewable energy. To learn more, please visit: www.sca.com.