Swedish-owned RusForest’s second quarter loss was SKr92.2m (2011: SKr-35.5m). Sales for the second quarter and first half were SKr154.2m (2011: SKr114.3m) and SKr276.9m (2011: SKr202.6m) respectively.
Sawn timber production increased to 67,584m3 in the second quarter and to 135,146m3 in the first half.
New chief executive Garrett Soden, who has joined the company with a mandate to drive efficiency, said the company had near-term operational and financing challenges. But he said the company was self-sufficient in raw materials and had access to some of the highest quality, lowest-cost timber in the world.
Rusforest owns five sawmills in eastern Siberia and the Arkhangelsk region and is self-sufficient in raw material to produce more than 400,000m3 of sawn timber annually.
