Jan 02, 2012. /Lesprom Network/. Vapo Oy and Powerflute Oyj have each purchased half of the 30% 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% of Harvestia’s shares, with the remaining 10% owned by the operational management, as the company said in a press release received by Lesprom Network. “We are satisfied that we have reached agreement to acquire the shares owned by Myllykoski. Vapo and Powerflute can now continue to develop Harvestia and its activities” say Juha Hakala, Business Area Director at Vapo and Juha Koukka, Managing Director at Savon Sellu. "Harvestia procures timber from private forests and also buys timber from Metsähallitus. They also make forward delivery contracts with their customer companies. Going forward, total annual volumes will be in excess of four million cubic metres. The main types of timber include softwood logs, energy wood and birch pulpwood. Vapo uses around 1.5 million cubic metres of saw logs a year and supplies around a million cubic metres of forest energy wood to customers. Savon Sellu uses around 700,000 cubic metres of birch pulpwood annually. Harvestia actively purchases final felling, thinning and energy wood stands. We will continue to offer a range of services to forest owners in future", says Pekka Kauranen, Harvestia’s Managing Director. Harvestia Oy is a timber procurement company owned by Powerflute Oyj and Vapo Oy. Harvestia procures timber for the plants of its owner companies, Savon Sellu in Kuopio and Vapo’s sawmills in Hankasalmi, Lieksa and Nurmes, and energy wood for Vapo. Harvestia also supplies timber to its partner companies. Harvestia purchases pulpwood, logs and energy wood both as standing timber and at a delivered price. Powerflute Oyj is a paper industry company. Powerflute Oyj’s subsidiary Savon Sellu Oy produces high-quality semi-chemical corrugated board, or fluting, from Finnish birch for use in highly demanding corrugated board packaging. Vapo is a leading supplier and developer of bioenergy in Finland and the Baltic Sea region. The Group has four business areas: Vapo Biofuels, Vapo Bioheat, Vapo Environment and Vapo Wood Products.