Woodbois Limited Company Update
January 28 2021 - 1:00AM
RNS Non-Regulatory
TIDMWBI
Woodbois Limited
28 January 2021
28 January 2021
Woodbois Limited
("Woodbois", the "Group" or the "Company")
Company Update
Woodbois, the African focused sustainable forestry and timber
trading company, today provides an operational and corporate
update.
Operational
-- Average daily sawn timber production to date in January of
60m(3) , more than 100% increase on average daily production during
2020
-- Average daily veneer production to date in January of 18m(3)
, 16% increase on average daily production during 2020
-- Production increases achieved through initiatives introduced
by the new management team in Mouila
-- Installation of new Primultini sawmill line remains on track for completion within Q1 2021
Corporate
In addition to the hires announced in Q4 2020 the Company
continues to see further benefits in strengthening its operating
and management teams across various aspects of its businesses.
Accordingly, the Company is pleased to have secured experienced
personnel to oversee shipping activities and R&D.
-- Dina Kviat Bergmann - Shipping Coordinator
-- Dina has significant international shipping and logistics
experience and joins Woodbois after 16 years with Hapag-Lloyd
Denmark, most recently as a Senior Coordinator. Based in
Copenhagen, Dina will be responsible for managing the Company's
shipping and logistics, a key role as the business builds scale and
increases its global distribution capabilities. Dina's role will
also entail ensuring the comprehensive capture of logistics data
and intelligence for the Company's proprietary trading system.
-- Joseph Fisher - Research and Development
-- Joseph has highly relevant experience in trading and export
in the soft commodity sector. He is a graduate of The University of
York with a Masters in Management and a BSc in Accounting,
Business, Finance and Management. Based in London, Joseph will help
to build the Company's circular economy offering by monetising
waste products through power creation, and manufacturing timber
products for sale into the local African market.
Commenting on today's announcement, Executive Chairman and CEO
Paul Dolan said:
"I am pleased to report that Woodbois has made a strong start to
the year at both of its production facilities in Gabon. In recent
days, we have achieved record levels of sawn timber production.
This significant increase in output is largely due to the improved
maintenance and working processes initiated by the new management
team in Mouila. With the addition of a further new sawmill line,
which is on track to be operational before the end of Q1, we are
well placed to further increase output as the year progresses.
In line with our ambitious growth plans for 2021, I am pleased
to announce the appointment of Dina and Joseph to the team.
Strengthening our shipping and logistics team has been a priority
given the increased volumes that we expect to deliver to our global
client base, and we are pleased to have secured someone of Dina's
experience. Joseph will be fulfilling an important R&D role in
the pursuit of enhancing margins, as well as helping to further
bolster our sustainable approach to operations. On behalf of
everyone at Woodbois, I welcome them to the Company."
Enquiries:
Woodbois Limited
Paul Dolan - Chairman and CEO + 44 (0)20 7099 1940
Canaccord Genuity, Nominated
Advisor
Henry Fitzgerald-O'Connor
James Asensio
Thomas Diehl + 44 (0)20 7523 8000
Celicourt Communications (IR/PR) +44 (0)20 8434 2643
Mark Antelme woodbois@celicourt.uk
Jimmy Lea
Background on Woodbois
Woodbois Limited (AIM:WBI) is an African focused forestry and
timber trading company, which produces, processes, manufactures and
distributes sustainable African hardwoods and hardwood products to
customers around the world.
Woodbois' forestry division has production facilities in Gabon
and Mozambique, managing a total of c400,000 hectares of natural
forest concessions. The trading division comprises a highly
experienced team of timber specialists, who source and supply
sustainable timber to a global customer base. Its proprietary
technology developed in house, captures, stores and presents data,
providing a matching engine to build scale and optimise trading
opportunities.
Sustainability is at the heart of the business, with a clear
focus on maintaining the transparency and sustainability of its
timber operations. This has been recognised by The Zoological
Society of London, which ranked Woodbois third in its
Sustainability Policy Transparency Toolkit ('SPOTT") ESG policy
transparency assessments for the worldwide timber and pulp
industries for 2020.
Please follow the Company on Twitter: @WoodboisLtd
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