Metsä Group’s parent company Metsäliitto Cooperative will sell its wood supply business in Latvia carried out by Metsä Forest Latvia SIA to Latvian company ACA Timber. The parties have also agreed long-term deliveries of pulpwood and chips to Metsä Group.
The arrangement aims to further increase the flexibility of Metsä Group’s wood supply. All Metsä Forest Latvia SIA employees will transfer as part of the target company to the new owner’s service.
The arrangement requires approval by the Latvian Competition Authority and is expected to be completed during first half of 2025. The divestment of the Latvian wood supply operations will not have a material financial impact on Metsä Group’s wood supply and forest services business.