Stora Enso has bought a processing mill formerly run by Scanforest, the bankrupt Estonian sawmill group owned by British and US investment banks.
The group collapsed in February owing EEK80m. It employed 220 in two mills near Rakvere and in Raplamaa.
Stora Enso this week acquired the Rakvere site, which is next to its own Napi sawmill and considered important for Napi’s future development providing value added products.
The assets include 20,000m3 of planing capacity, kilns, warehouse, repair shop and railway connection. Stora said it will complement the recently built planing facilities at Napi, which open later this month.
