UPM-Kymmene is to buy AS Forestex‘s and Stora Enso Timber AS’s holdings in the Estonian birch plywood mill AS FSS Plywood.
At the same time UPM-Kymmene will sell its holding in AS Forestex to Stora Enso Timber AS.
Seppo Vainio, director of the Baltic Production Group, Stora Enso Timber, said: “Through this transaction we are focusing on an effective sawmilling industry in Estonia. At the same time we gain total control of the raw material supply to our present and future sawmills.”
AS FSS Plywood, which was founded in 2002 by the wood procurement companies AS Forestex and AS Sylvester and plywood manufacturer Schauman Wood Oy, produces birch plywood for the construction, furniture and transport vehicle industries.
Production, amounting to 20,000m3 a year, is marketed under the WISA brand and most is exported to central European markets.
Finalisation of the acquisition is subject to the approval of the competition authorities.
