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History
2006
RusForest is created through Vostok Nafta Investment Ltd's (Vostok Nafta) acquisition of PIK-89 (80%), Tuba-Les and Tublesprom.
Varyag Resources AB (Varyag) was listed on the First North list of the Stockholm Stock Exchange on 7 August 2006, providing 441 million SEK before issue expenses. Subsequently, Varyag became Vostok Nafta's joint venture partner, in RusForest, by acquiring 50% of Vostok Nafta's interest in PIK-89, Tuba-Les and Tublesprom.
| Forest Land (ha) | Total AAC (m3) | Harvesting (m3) | Sawmilling (m3) |
|---|---|---|---|
| 535,000 | 1,086,000 | 694,000 | 122,000 |
2007
March: RusForest acquires OOO Boguchansky LPK
May: RusForest acquires OOO Lesprom
August: RusForest acquires OOO Nebelsky (now RusForest Magistralny)
December: Varyag completes SEK 200 million rights issue
| Forest Land (ha)* | Total AAC (m3)* | Harvesting (m3)* | Sawmilling (m3)* |
|---|---|---|---|
| 914,147 | 1,548,400 | 519,784 | 129,664 |
*Data has been adjusted for the removal of volumes relating to Nebelsky LPH
2008
June: RusForest acquires TSLKK
July: RusForest acquires ZAO Bamlesstroi
October: Operations begin at the new HewSaw sawmilling line at Boguchansky LPK
Harvesting and sawnwood volumes were dramatically reduced in 2008 due to extraordinarily high rainfall during the summer months and substantial repair work on sawmilling equipment.
| Forest Land (ha) | Total AAC (m3) | Harvesting (m3) | Sawmilling (m3) |
|---|---|---|---|
| 1,005,020 | 1,654,100 | 593,529 | 120,617 |
2009
June: Varyag acquires 50% of RusForest from Vostok Nafta through an issue in kind. The acquisition was a part of the restructuring of Varyag which implied a change in the company's business strategy and structure from a private equity company to a forestry company.
August: Varyag Resources AB changed it's name to RusForest AB