Stockholm, 2012-09-20 08:05 CEST (GLOBE NEWSWIRE) --
As previously disclosed, the Company is taking steps to address operational and financing challenges. As part of this process, the Board of Directors has appointed Pareto as financial advisor to explore potential alternatives that create value for the Company’s stakeholders.
About RusForest
RusForest is a publicly-traded Swedish forestry company operating in eastern Siberia and the Arkhangelsk region of Russia. The Company controls approximately 3 million hectares of timber through long-term leases with an annual allowable cut (“AAC”) of approximately 3.6 million cubic meters. RusForest owns five sawmills in close proximity to its forest leases and is self-sufficient in raw material to produce more than 400,000 cubic meters per year of sawnwood products.
RusForest is listed on NASDAQ OMX Stockholm First North (ticker symbol “RUSF”). RusForest’s largest shareholder is Vostok Nafta Investment Ltd, which owns approximately 29 percent of the Company’s shares.
RusForest AB's Certified Adviser on First North is Pareto Öhman AB.
For additional information, please visit the Company’s website at www.rusforest.com or contact:
Mia O’Connor, Investor Relations, telephone: +46 8 771 85 00
