This article reviews the causes and possible consequences of the internationalizationprocess of forest industries. The term internationalization is understoodhere as the general process whereby firms activate their transnational operations, bethey acquisitions from abroad, buy-outs, mergers, or foreign direct investment. Allthese forms of outward expansion of firms are typically regarded as alternatives totraditional international trade, imports or exports. In part because forest industrycompanies worldwide have been latecomers in this process as compared to firms insome other sectors, internationalization can be expected to become a key process inthe forest sector in the coming years. As a result of this process, these companies arelikely to become more independent of national policies and organizations.