Tsar Timber is back in business after being bought by a Russian investment bank with sawmilling and logging interests.
Tsar went into receivership in December after a “period of financial difficulty”. But today managing director Sampsa Auvinen confirmed that the business had been acquired.
He could not reveal the identity of the new owner, but said it was a Russian investment bank with interests in sawmilling and logging. It had bought Tsar as part of its strategy to form a fully integrated Russian timber trading group.
