RCS - Woodbois Limited - Company Update

WoodboisAnnouncement

28/01/2021 07:00

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RNS Number : 1325N  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  + 44 (0)20 7523 8000

 Henry Fitzgerald-O'Connor

 James Asensio

 Thomas Diehl

 Celicourt Communications (IR/PR)      +44 (0)20 8434 2643

 Mark Antelme                          woodbois@celicourt.uk (mailto: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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