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Abonner Precious Woods Holding Ltd.

Precious Woods Holding Ltd.

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Temporary shut-down of the Precious Woods´ Pará sawmill (Brazil)

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Plant Closings
14.02.2008
Due to insufficient supplies of roundwood, Precious Woods Pará has 
been necessitated to temporarily close its sawmill. 255 staff will be
affected by the decision. Precious Woods Pará is committed to fulfill
its obligations according to the Brazilian law as well as those of 
the social plan that was agreed upon with the trade unions.
The late arrival of the concession agreement and consequently the 
delay of the harvest´s start into October 2007 are the reasons for 
this measure.
The remaining stocks are not large enough to keep the sawmill loaded 
until the beginning of the coming harvest in May 2008. The original 
hope to harvest through the end of January 2008 in spite of the 
beginning of the rainy season could not be fulfilled as the Brazilian
Forest Authorities did not grant any timber company the right to 
extend the harvest period beyond 31 December 2007.
Precious Woods plans to resume the harvest in May 2008 with the 
option of operating the sawmill on reduced capacity. However, this 
decision will depend on the possibility of gaining access to 
additional forest concessions.
Precious Woods is an international company active in the sustainable 
management and use of tropical forests. The company's core activities
include reforestation and sustainable management of tropical forests,
timber processing and the trading of FSC-certified timber products. 
The generation of emission rights and electricity from recovery wood 
represent further integral elements of the company's business. The 
shares of Precious Woods Holding have been traded on the SWX Swiss 
Exchange since March 2002. Further information about Precious Woods 
is available at www.preciouswoods.com.
end of announcement                               euro adhoc

Contact:

Precious Woods Holding AG, Zug
Dr. Andres Gut, Chairman
Tel. +41 44 2458010 / +41 44 2458120
mailto:office@preciouswoods.com

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

Plus de actualités: Precious Woods Holding Ltd.
Plus de actualités: Precious Woods Holding Ltd.