October 22th, 2007
Metsäliitto divests its wood supply business in Lithuania
Under a transaction concluded today, Metsäliitto Cooperative has sold its Lithuanian wood supply company Metsäliitto Lietuva UAB to the company's CEO Gintas Zinkevicius. At the same time, the parties have reached a long-term agreement on wood supply.
"The decision will secure the supply of pulpwood from Lithuania to the Group's mills in Finland and Sweden. In addition, it will free us from further investments necessary to develop the present wood supply organisation which comprises less than 10 persons," says Heikki Karhunen, Director, Metsäliitto Wood Supply, Baltic Countries.
Metsäliitto does not have its own mills or long-term wood supply agreements in Lithuania. The deal will contribute to improved cost efficiency in pulpwood supply. It will also enable Wood Supply to concentrate its management, financial administration, IT and development resources on its operations in Estonia and Latvia.
Heikki Karhunen, Director, Wood Supply, Baltic Countries
Metsäliitto Group, tel. +358 50 598 8950
Ilari Pirttilä, Communications Manager, Wood Supply
Metsäliitto Group, tel. +358 50 598 9920
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