York Timber Organisation Limited
(Registration number 1916/004890/06)
ISIN: ZAE000008108
Share code: YRK
Yorkcor shareholders have unanimously ratified the acquisition of the assets of
two sawmilling undertakings in liquidation, Bluechip Timbers Mpumalanga (Pty)
Ltd and Bluechip Industrial Timbers (Pty) Ltd.
The acquisition is of strategic benefit to Yorkcor, complementing the sawmilling
activities of group company York Timbers. It also represents a cost effective
expansion opportunity for Yorkcor to apply its extensive knowledge and goodwill
in revitalising the two sawmilling operations. "For us to have established
these sawmills from grassroots level would have been extremely costly," points
out Yorkcor chairman Solly Tucker.
Situated in Amsterdam and Lothair, the two acquisitions have been styled
Roburnia Forest Products and Golden Rhino Lumber, respectively. "Well located
in respect of the Gauteng and KwaZulu-Natal markets, the acquisitions open the
way for exciting strategic prospects for Yorkcor," concludes Tucker.
Ends
ISSUED Yorkcor Limited
FOR :
CONTACT Solly Tucker (012) 804 9730/083 456 9900
:
FAX NO (012) 804 8611
:
E-MAIL sol@yorkcor.co.za
:
WEBSITE www.yorkcor.co.za
:
ISSUED TISH STEWART PR ASSOCIATES
BY :
CONTACT Tish Stewart (011) 325 4195 Cell: 082 443 6399
:
FAX NO (011) 325 4199
:
E-MAIL tish@tspr.co.za
:
DATE : 13 January 2003
Date: 13/01/2003 01:22:04 PM Produced by the JSE SENS Department
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