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New sawmills will promote sustainable wood procurement and the local processing of wood. In 2002, Stora Enso and the owners of AS Sylvester, Estonia's largest wood products and wood procurement company, signed an agreement for Stora Enso Timber to acquire majority ownership of Sylvester. This transaction should be closed during the first quarter of 2003, after approval by the competition authorities.
Stora Enso Timber will consequently acquire 66% of the outstanding shares of AS Sylvester's sawmill operations, as well as Sylvester's entire wood procurement operations. Stora Enso Forest Baltic will manage the forest operations and start to formalise and strengthen the traceability system, in order to guarantee the sustainability of fibre sources.
Timber Products
The acquisition also includes a commitment to build three new sawmills over the next few years. Stora Enso has also recently decided to build two sawmills in Russia – at Pitkäranta and Nebolchi. These new sawmills will promote sustainable wood procurement and the local processing of wood.
Pskov Model Forest
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