Sveaskog has strengthened its position in the Swedish pine timber products market after reaching an agreement to buy 200,000ha of productive forest land from Industriförvaltnings AB Kinnevik and the Korsnäs sawmill operations.
The acquisition, for around SKr2.06m, is expected to be complete by the end of August depending on permission from the Swedish Competition Authority and on acquiring the land.
Korsnäs Timber has an annual sawn pine capacity of around 160,000m3 and 90 employees, with most of its products being produced for the carpentry and furniture industry.
Sveaskog says the acquisition will provide better opportunities for it to help in the restructuring of the Swedish sawmilling industry.
Bo Dockered, Sveaskog chairman, said: “Sveaskog is consolidating its position as the leading manager of productive forest land in Sweden and as an independent player in the timber market.”
