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Organization

Group Structure

Latvian Forest Company AB (publ) is the Swedish parent company which in turn owns 100 percent of all subsidiaries. The Latvians subsidiaries are the entities that formally purchase and own all property.  

 

A well established local organization has been working since the beginning of 2010 and handles the purchasing process and legal issues as well as on-going forest management activities and book keeping. The persons involved have suitable qualifications in the areas of forest management as well as legal issues involved. They have a well established track record as concerns property purchases in the forestry sector as well as in forest management.

The Latvian organization is to a large extent renumerated on the basis on the number of hectares acquired the forest management activities performed. The remuneration structure is designed to motivate a high level of activity while at the same time providing for a long-term shareholder interest. The purpose being to favor activities that create maximum long term returns for shareholders.

CEO (part time) is Aleksandrs Tralmaks who also is Chairman of the Board for Catella Corporate Finance in Riga and has established Catella operations in the three Baltic countries. He has, amongst other things, been involved with the sale of the largest sawmill in Latvia as well several large forest property portfolios.

The board consists of the Chariman Jan Edward Alvenius and the Board Members Martin Hansson, Martin Skugge, Ulrika Arver, Anders Nilsson and Andreas Norman. Ulrika Arver represents Arvergruppen AB, a privatley owned company. Jan Edvard Alvenius is employed by the Nordea group, the largest bank in the Nordic countries, and is one of those whose previous experience in Latvia formed the basis for Latvian Forest Company as it exists today. Anders Nilsson was the seller of one of the property packages purchased during spring 2014. Anders has extensive experience of building and managing forest property portfolios in both Latvia and Sweden. Andreas Norman has a degree from The Swedish Univeristy of Agricultural Science and has previous forestry business experience from Rusforest and IKEA Industry in Russia. Martin Hansson represents the largest individual shareholder Galjaden AB.