The divestment of Metsä Group’s parent company Metsäliitto Cooperative’s wood supply business in Estonia to Combiforest OÜ, a subsidiary of the Estonian company Combiwood Grupp OÜ, has been completed. The seller is Metsä Forest Eesti AS, a subsidiary fully owned by Metsäliitto Cooperative. On 27 February 2024, Metsä Group announced the divestment of its wood supply business in Estonia, which at the time still required approval by the Estonian Competition Authority.
The divestment of the Estonian wood supply operations has no material financial impact on Metsä Group’s wood supply and forest services business. The parties have agreed long-term deliveries of pulpwood and chips to Metsä Group. All Metsä Forest Eesti AS employees will transfer to the new owner’s service as existing employees.
Metsä Forest provides and develops services for the members of Metsä Group’s parent company, Metsäliitto Cooperative. The company procures all the wood used by Metsä Group’s production units. The cooperative consists of more than 90,000 forest owners, who own about half of Finland’s privately owned forests.
