Vapo and Powerflute have each purchased half of the 30 percent of the equity of the timber procurement company Harvestia Oy belonging to UPM’s subsidiary Myllykoski Corporation. Following this transaction, Vapo and Powerflute each own 45 percent of Harvestia’s shares, with the remaining ten percent owned by the operational management.Harvestia supplies wood to its holding companies’ mills and to its partners in Finland. Harvestia’s annual wood sourcing volume is about four million cubic meters. “We are satisfied that we have reached an agreement to acquire the shares owned by Myllykoski. Vapo and Powerflute can now continue to develop Harvestia and its activities,” says Juha Hakala, Business Area Director, Vapo, and Juha Koukka, Managing Director, Savon Sellu mill (owned by Powerflute)."Harvestia procures timber from private forests and also buys timber from Metsähallitus. The main types of timber include softwood logs, energy wood and birch pulpwood. Vapo uses around 1.5 million cubic meters of saw logs a year and supplies around a million cubic meters of forest energy wood to customers. Savon Sellu uses around 700,000 cubic meters of birch pulpwood annually. Harvestia actively purchases final felling, thinning and energy wood stands,” says Pekka Kauranen, Harvestia’s Managing Director.