RusForest selling Arkhangelsk assets
Dec. 10, 2014 - Swedish forestry company, RusForest, is selling its Arkhangelsk assets in northwest Russia for approximately $31 million, including all outstanding debt. The assets include an LDK-3 sawmill and related pellet mill, forest leases and harvesting companies in the Arkhangelsk region.
"This is interesting because they just finished building this plant earlier this year," said Gordon Murray, Executive Director of the Wood Pellet Association of Canada. "It makes you wonder if the Russian instability in the Ukraine is causing this."
The Arkhangelsk sawmill has an annual capacity of 120,000m3 of sawn wood, and the pellet mill has an annual capacity of 100,000 tonnes of pellets. The Arkhangelsk LDK-3 sawmill and the harvesting company, Severny Les, hold forest leases with 851,000m3 of annual allowable cut (AAC), according to BioEnergy News.
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