-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Expansion Africa
12.04.2007
On April 11th Precious Woods acquired majority interests in the companies CEB and TGI, both of which are domiciled in Libreville, Gabon. The associated European sales organisations were also included in the acquisition. The two companies employ around 700 people in total.
CEB manages existing forest in Eastern Gabon in a concession area of 600 000 hectares. Around 200 000 m3 of roundwood is harvested annually. Since the mid-nineties, CEB has been engaged in drafting and implementing a forest management plan, which constitutes important pioneering ecological work within Central Africa’s forestry industry. The plan guarantees that no more wood is harvested than can simultaneously grow back. CEB operates a sawmill under the forest concession and a small moulding factory in Libreville. TGI operates a veneer factory in Libreville.
Precious Woods is set to virtually double its sales on a full-year basis. We anticipate that both the profitability of the Group and its ability to generate cash will significantly increase.
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 12.04.2007 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 44 245 80 10 mailto: office@preciouswoods.com
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