SCA to acquire 13,000 hectares of forest land in Latvia
SCA has signed an agreement to acquire forest land in Latvia from Isnaudas Forest Holding AB. The acquisition comprises an area of 19,150 hectares, of which 13,100 is forest land, at a purchase price of 44.5 million Euros (approximately SEK 450 million).
The standing timber volume amounts to 1.8 million cubic metres. Some areas of the acquired land that are not forest land, will be divested.
SCA has so far acquired 30,000 hectares of forest land in Estonia and Latvia.
"We have the ambition to grow as forest owner in the Baltic states", says Jonas Mårtensson, President Forest, SCA. "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."
The acquisition is expected to be closed in the fourth quarter of 2020.