| Home: Global Wood |  |
Industry News & Markets |
¡¡
| Home: Global Wood | |
Industry News & Markets |
Stora Enso to Sell Forest in Finland And the US |
| M2 Communications May 16, 2002 The Finnish-Swedish forest industry group Stora Enso Oyj said today (16 May) that it planned to restructure the ownership of its forest lands in Finland and the US. In Finland the plans involve the transfer of forest holdings, valued at over EUR400m and comprising some 600,000 hectares, to the new company Tornator Oy. Stora Enso said that it would retain a minority stake in Tornator and that the remaining shares would be sold to institutional investors by the end of 2002. In the US the company plans to sell 130,000 hectares of forest in Wisconsin, Michigan and Minnesota directly to investors. The book value of these assets is EUR100m, Stora Enso said. The restructuring would not affect Stora Enso's forest holding in Sweden, Portugal and Canada. |
CopyRight 2000-2002 Global Wood Trade Network. All rights reserved
¡¡