Last kr1.49 SEK
Change Today +0.03 / 2.05%
Volume 1.6K
RUSF On Other Exchanges
As of 4:10 AM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

rusforest ab (RUSF) Snapshot

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52 Week High
02/7/14 - kr2.26
52 Week Low
10/7/14 - kr1.09
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rusforest ab (RUSF) Details

RusForest AB (publ), together with its subsidiaries, operates as a forestry company in Eastern Siberia and the Arkhangelsk region in Russia. It produces a range of sawn wood products, including sawn timber and saw logs; and wood chips and pellets, sawdust, and pulpwood. It holds a total of 2.5 million hectares of leased timber forest land. It serves customers primarily in China, the Middle East, Russia, Japan, Central Asia, North Africa, and Europe. The company was formerly known as Varyag Resources AB (publ) and changed its name to RusForest AB (publ) in August 2009. RusForest AB (publ) was founded in 2005 and is headquartered in Stockholm, Sweden.

1,829 Employees
Last Reported Date: 04/24/14
Founded in 2005

rusforest ab (RUSF) Top Compensated Officers

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rusforest ab (RUSF) Key Developments

RusForest AB (publ) Reports Sales Results for the Fourth Quarter and Full Year Ended December 31, 2014

RusForest AB (publ) reported sales results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company sold 20,355 m3 of sawnwood from Magistralny compared with 19,733 m3 in Fourth Quarter 2013 (+3.2%). The Company also sold 19,670 m3 of sawlogs compared with 25,176 m3 in Fourth Quarter 2013 (-21.9%). For the full year 2014 the company sold 78,088 m3 of sawnwood from Magistralny compared with 73,566 m3 in 2013 (+6.1%). The Company also sold 78,312 m3 of sawlogs compared with 106,942 m3 in 2013 (-26.8%).

RusForest AB (publ) Announces Executive Changes

RusForest AB (publ) announced a management update and corporate simplification. After the recent sale of the Boguchany and Arkhangelsk assets, the restructuring of RusForest is largely complete. Due to the reduced asset base, the Company's Group CEO, Matti Lehtipuu, has resigned effective December 31, 2014, in order to pursue other opportunities. Matti will remain available for a transition period as needed. Anton Bogdanov, RusForest Group COO, will continue to be CEO of the Russian management company that has operated the Company's Siberian assets since the beginning of 2014. Anton is a seasoned Russian forestry executive based in Moscow. Anders Börjesson remains as General Counsel and CEO of RusForest AB (publ). Gustav Wetterling remains as the Company's CFO. Both Anders and Gustav are fluent in Russian and are based in Stockholm.

RusForest Announces Early Repayment of Vostok Nafta Loan

RusForest AB (publ) announced the early repayment of the Vostok Nafta loan of USD 5 million. In November 2012, RusForest secured a USD 5 million term loan from the Company's major shareholder at that time, Vostok Komi (Cyprus) Limited, a wholly-owned subsidiary of Vostok Nafta Investment Ltd. The proceeds from the loan were used for working capital purposes, and the loan was secured by a pledge of RusForests interests in certain forestry assets. The loan was maturing on December 31, 2014. RusForest has now repaid the Vostok Nafta loan early in order to reduce expenses after receiving the previously announced cash from the divestment of the Arkhangelsk assets.


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