SCA Acquires 10,000 Hectares of Forest Land in Estonia
4 June 2019
STOCKHOLM, June 3, 2019 /PRNewswire/ -- SCA has acquired Forestum Group AB, a Swedish company which owns forest and land assets in Estonia, totalling approximately 10,000 hectares. The purchase price is SEK 420 million (€39m) on a debt-free basis.
Forestum has an Estonian subsidiary which owns 10 300 hectares of land on the islands of Dagö and Ösel. 8,800 hectares of this land is forest land with a standing volume of 1,300,000 cubic metres.
SCA recently acquired 10,000 hectares of forest in Latvia.
"We have the intention to grow as a forest owner in the Baltics", says Jonas Mårtensson, President Forest. "The Baltic states are a natural part of our raw material supply base and 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."
On June 3 SCA acquired 93 per cent of the shares in Forestum Group AB from the major owners of the company and will now offer to buy the remaining shares from the minority owners. The sum SEK 420 million refers to the purchase price on a debt free basis for 100 per cent of the shares.
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.
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
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The following files are available for download:
Press release (PDF)