SCA acquires 10,000 hectares of forest land in Estonia

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SCA acquires 10,000 hectares of forest land in Estonia

June 20, 2019 - 05:46
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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 (€ 39 million) 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 m3.

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.”