08 June 2004 12:08
Metsaliitto subsidiary acquires 44% stake in Russian company
Finnish forest industry group Metsaliitto Cooperative said on Tuesday (8 June) that its subsidiary Thomesto Oy had
acquired 44%-ownership in the Russian wood acquisition company Vologodskie Lesopromyshlenneki.
The acquisition was a strategic step in developing the Russian forest industry, according to the company.
The companies had also agreed that the shareholders of the Russian company would acquire shareholding in
Metsaliitto's subsidiary Suda Wood and would take part in its operations in Russia.
The acquisition price was not disclosed.
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