-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Expansion
30.03.2007
On March 29th 2007 Precious Woods acquired a minority interest in the Liechtenstein-based company Nordsüdtimber (NST). With this step the Precious Woods Group has laid the foundation for an expansion into the Democratic Republic of Congo. The NST Group holds majority interests in four large forestry companies in the Democratic Republic of Congo and in several trading and service companies in various European countries.
Precious Woods acquired its stake by participating in a capital increase conducted by the NST Group, thereby providing this company with fresh funds. The contract includes an option for Precious Woods to substantially increase its participation at a later date.
For Precious Woods, the investment in NST secures medium and long-term access to extensive, high quality timber resources. At the same time, Precious Woods aims to play an active part in the development of a sustainable forestry industry in the Congo Basin. NST’s subsidiaries are already preparing their operations for certification according to the criteria of the Forest Stewardship Council (FSC) and Precious Woods will lend its support to this process. The fresh capital provided by Precious Woods will be used to improve NST’s logistics in the Democratic Republic of Congo and to expand processing capacity.
Precious Woods is an international company active in the sustainable management and use of tropical forests. The company’s core activities include the reforestation and sustainable management of tropical forests, timber processing and the trading of FSC-certified wood products. The generation of emission rights and electricity from waste wood are further integral parts of the company’s business concept. The shares of Precious Woods Holding have been traded on the SWX Swiss Exchange since March 2002. Further information about Precious Woods is available under www.preciouswoods.com.
end of announcement euro adhoc 30.03.2007 06:00:00 --------------------------------------------------------------------------------
ots Originaltext: Precious Woods Holding AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: Kontakt: Precious Woods Holding AG, Zug Dr. Theodor Scheidegger, CFO Tel. 41 1 245 80 10 mailto: office@preciouswoods.com
