THE verdant Nordic forests are proving a big moneyspinner for the region's large pulp and paper conglomerates, Almost all the Swedish, Finnish and Norwegian producers, together accounting for more than 36 per cent of the paper production and consumption in the European Community, have reported a huge leap in profitsfor 1994 and are expecting more profits this year.

At a meeting of the Swedish Forestry Industry Association late March, LarsAke Hegelsson, chief executive of the Swedish group, Stora, maintained that the forestry sector was a modern growth industry. Hegelson says there is reason to look forward to the 21st century "with optimism and a strong belief in the future". Though, this is not exactly music to the ears of European environ- mentalists, who have been hankering for a cut in commercial felling.