AssiDomn is pinning nearly all its hopes on one area of business growth in a unique plan for the future.

The Swedish firm is focusing its firepower on its 2.4m hectares of forests, and will buy and sell land aiming to grow business by 5% a year.

AssiDomn, which sold its corrugated board business in spring, as well as its craft paper, sack paper and conversion, and barrier coating operations, said it wanted to sell 70m of forests by next year.

Selling some of our forests in south Sweden for hunting and fishing could earn us up to five times more than we make by managing them, said a spokeswoman.

But we can also buy remoter forests at much better prices. We are unique in being the first firm to just focus on forestry.

She said AssiDomn owned 10% of Swedens productive forests.

It would not pay cash for land, but buy using shares, and the long-term dividend should correspond to up to 80% of profit, she said.

The firm will continue to develop cartonboard at its Frvi mill. It holds a 50% stake in Billerud.

Last month AssiDomn saw its profits rise 67m on the quarter before to 112m. But its 200m net turnover was down 40% due to the sale of its containerboard and corrugated businesses to Hollands Kappa.

Story by Jez Abbott