OREANDA-NEWS. January 28, 2015. RusForest sawnwood production in Magistralny unit increased by 2.7% to 21,368 cubic metres in 4Q 2014 compared with 20,805 cubic metres in 4Q 2013, as the company said in the press release received by Lesprom Network.

RusForest sawnwood production in Magistralny increased 11.1% to 78,826 cubic metres in 2014 compared with 70,924 cubic metres in 2013.

RusForest sold 20,355 cubic metres of sawnwood from Magistralny compared with 19,733 cubic metres in 4Q 2013 (+3.2%). The Company also sold 19,670 cubic metres of sawlogs compared with 25,176 cubic metres in 4Q 2013 (-21.9%).

RusForest sold 78,088 cubic metres of sawnwood from Magistralny compared with 73,566 cubic metres in 2013 (+6.1%). The Company also sold 78,312 cubic metres of sawlogs compared with 106,942 cubic metres in 2013 (-26.8%).

RusForest increased both production and sales volumes of sawnwood in 4Q 2014 and full year 2014 compared with the same periods in 2013 due to increased capacity utilization of sawmilling machinery and further improvement in our sales policy. However, in the second half of 2014, the roundwood oversupply on the Chinese market decreased RusForest’s sawlog sales in 4Q 2014. The share of the Japanese market in total sales increased from 40% in 2013 to 47% in 2014.

At December 31, 2014, following the divestment of the Boguchany and Arkhangelsk units, RusForest had an unaudited cash balance of approximately USD 10 million, of which approximately USD6.5 million was held at the corporate level. At year end, the Company had unaudited corporate debt of approximately USD 0.5 million (zero coupon bonds denominated in SEK and maturing in May 2018).

RusForest is a Swedish forestry company operating in Eastern Siberia. The Company controls long-term timber leases and utilizes these resources to produce a wide range of sawnwood products.