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SCA is a leading forest and forest products company that, with a base in Europe’s largest private forest holdings, conducts a resource-efficient industry to generate the highest possible value from the forest.

SCA provides its customers with renewable products based on raw materials from responsibly managed forests and a resource-efficient value chain. With growing forests and renewable products, SCA also contributes to a circular society and the sequestering of carbon dioxide. The strategy is to focus on selected markets and product categories, to develop new business opportunities through innovation, and to continuously improve efficiency.

SCA manages 2.6 million hectares of environmentally certified forestland in northern Sweden and the Baltic countries, of which 2 million hectares are used for production and supply SCA’s forest industries with raw material. Roughly an equal amount of timber that is harvested from its own forests is purchased from other forest owners. The company operates five sawmills in Sweden along with wood processing, distribution and wholesale operations. Sulfate pulp and chemi-thermomechanical pulp are produced at the Östrand pulp mill. In addition, containerboard is produced at mills in in Obbola and Munksund. SCA also conducts expanding business in bioenergy, and a large share of Sweden’s wind power is generated on the company’s land.

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Active ownership in practice – strategic development in recent years

In its capacity as a long-term active owner, Industrivärden engages itself in the portfolio companies’ strategic development. Against the backdrop of the Company’s business model, this concerns mainly matters pertaining to the portfolio companies’ boards and management teams, financial development and matters such as strategy, market position, sustainability, efficiency and capital structure.

Following are examples of important corporate governance matters and major strategic activities for long-term value creation that the respective portfolio companies have taken in recent years, where Industrivärden has played an active role through its work on the board and nominating committee. 

Value-creating measures

Formation of company in 2017 through refinement and split of former SCA Group into two listed companies, with stronger focus on the core businesses

  • Refinement of company in 2017 through split of former SCA into two listed companies, for stronger focus on core business
  • Major investments in pulp mill in Östrand, in mills in Obbola and Munksund, in forestlands in the Baltics, and discontinuation of publication papers business
  • Strengthened innovation focus with base of forest raw material
  • Distinct focus on the forest’s climate benefits with positive substitution effects from the company’s renewable products; raised targets for reduced carbon footprint and preservation of biodiversity in own operations
  • Revaluation of the company’s forest assets
  • Numerous new directors elected to board and installation of Ulf Larsson as CEO in 2017


  • Emphasis on value of forest assets
  • Greater exposure to attractive market segments and strengthened competitiveness
  • Stronger financial position


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Last update: 07 Jul 2022