Precious Woods Holding Ltd.

euro adhoc: Precious Woods Holding AG, Zug
Mergers - Acquisitions - Takeovers
Precious Woods acquires interest in older teak plantation (E)

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Precious Woods has acquired a minority interest in Nibo and thus indirectly in one of the largest operators of teak plantations in Costa Rica. Nibo is the controlling shareholder of Panamerican Woods which owns about 3’000 hectares of teak plantations in the south of the Nicoya peninsula, Costa Rica. These teak plantations were created from 1985 until 1993 and are on average about 7 years older than those of Precious Woods. Precious Woods itself has reforested about 4500 hectares from 1990 until 2002 of which 3300 hectares were planted with teak. Since two years, Panamerican Woods has been exporting teak harvested from thinnings to India and is also processing teak to flooring products in its own local factory. As are all of the Precious Woods Group companies, Panamerican Woods is also FSC certified.

In the long term, a closer cooperation between Precious Woods Costa Rica and Panamerican Woods could lead to significant benefits as the teak plantations of each company complement each other very well in respect to their age. The objective of any company active in the area of sustainable forest management must be to manage reforestations of all age groups in a planting and harvest cycle. In addition, both companies possess unique know-how as well as complementary strengths. In future various type of cooperation are conceivable ranging from contractual cooperation agreements and further participations to a full merger.

end of announcement            euro adhoc 12.09.2002
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Further inquiry note: Kontakt: Precious Woods Holding AG, Zug Dr. Andres Gut, CEO Tel. 41 1 245 80 10 mailto: office@preciouswoods.ch

Branche: Forestry & Timber
ISIN:      CH0013283368
WKN:        982280
Index:    SPI
Börsen:  SWX Swiss Exchange / official dealing



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