SCA signs letter of intent to buy 10 000 hectares of forest land in Latvia

SCA and Latvian Forest Company have signed a letter of intent for SCA to acquire 10 000 hectares of forest land 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 (€ 26 million).

"We see the Baltic states as part of the base for SCA's raw material supply", says Jonas Mårtensson, President Forest. "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."

The letter of intent is not binding for the parties.

In 2018, 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.