Ence takes over SNIACE’s forestry assets and seed orchards

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GroupLink Securities| Spanish pulp and energy company Ence (ENC) announced on Friday that it has been awarded the forestry assets of SNIACE (SNC) in the auction held as part of the company’s insolvency proceedings, Bolsamania.com reported.

Ence said that with this transaction, it continues in sustainable forest management, a strategic business line for the group and fully aligned with its commitment to the bioeconomy. Also, this award will allow the company to give new impetus to its program of development of new plant material adapted to the conditions of climate change.

SNC’s forestry assets, located in Cantabria, consist of 3,362 hectares of forest, and also include other assets, such as five Nitens eucalyptus seed orchards and two commercial species of Globulus eucalyptus, resistant to the local pests that affect this crop.

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