July 4, 2001
BARLOWORLD SELLS FOREST INTERESTS TO STEINHOFF
International industrial brand management company, Barloworld has sold its
Southern Cape timber related assets (which operate as Thesen & Co) to
Steinhoff Africa Holdings (Pty) Limited, a subsidiary of International
Holdings Limited.
Thesen & Co operated 9 000 hectares of forest, of which 6 000 hectares was
under radiata pine, in the Knysna area, and a sawmill and plywood factory on
Thesen Island in the Knysna lagoon.
Tony Phillips, chief executive officer of Barloworld, said: "This deal is
part of our programme of disposing of businesses which fall outside our
focus as an international industrial brand management company."
Danie van der Merwe of Steinhoff Africa said: "Our strategic interest in
timber is to secure and enhance exports from South Africa. We already
export substantial volumes of pine-related products to Europe, the United
Kingdom and the USA and intend to grow these exports in the years to come.
Steinhoff's ability to add value to timber at the source and to export it
through its own sales and marketing infrastructures in Europe and the UK
makes the acquisition of these assets a perfect fit for our strategy.
The pine grown in the Southern Cape region is best suited for furniture and
other pine products, which makes this region a logical choice for investment
by Steinhoff. This investment secures strategic supplies for the future and
offers opportunities to set up value adding facilities in the region with
attendant job creation."
Steinhoff currently exports Pine furniture, doors, shelving and other timber
products from South Africa, under the branch names of House of York,
Maxwood, Pinewood, Peach and Hatton, Prime Pine and Unita.
Ends.
Released on behalf of Barloworld by Westcom Public Relations. For further
information please contact:
Mark Drewell, Head of Corporate Communications at Barloworld on 27 (0) 11
445 1204.
Or
Danie van der Merwe, CEO of Steinhoff on 27 (0) 11 445 3000.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
