The joint stock company A/S Baltic Pulp was established in 2000 to investigate opportunities to build a pulp mill in Latvia. The owners of A/S Baltic Pulp are the Latvian state (33%) and Oy Metsä-Botnia Ab (67%). Botnia announced already in November 2006 its proposal to the Latvian government that the suspended pulp mill project should be discontinued. The concept of the pulp mill was in the changed circumstances no longer competitive. The shareholders have come to the conclusion that the implementation of the project is not feasible and made on 6 March 2009 the decision to liquidate the joint venture company.