ROUGIER announces the effective sale of its industrial plywood manufacturing assets in Owendo, in Gabon
ROUGIER GABON announces the completion of the effective sale of its industrial plywood manufacturing assets in Owendo (Gabon) accompanied by the complete takeover of the plant's 188 employees.
This sale comes after a fiscal year 2020 deeply affected by the global crisis related to the consequences of the COVID 19 pandemic with impacts on all ROUGIER's forestry, industrial and commercial activities. The final settlement of this operation took place on October 8, 2021.
Fiscal year 2021 shows encouraging signs of recovery, driven by ROUGIER's strategic refocusing and development on the sustainable and certified exploitation of natural forests in Gabon and the Republic of Congo, as well as on the international marketing of African tropical timber.
In this context, ROUGIER GABON recorded an increase of its FSC® certified forestry production in the second half of the year, accompanied by the creation of direct and indirect jobs. This increase allows the development of multi-year supply contracts for FSC® certified logs in Gabon with wood processing industries and, of course, the Owendo plant's buyer.
In the CONGO, MOKABI is facing obstacles to the normalization of its activity in the face of the current hazards and costs of international maritime logistics.
ROUGIER AFRICA INTERNATIONAL is increasing the marketing in Europe of FSC® certified okoumé plywood produced in Gabon.
ROUGIER and its subsidiaries currently employ about 1,300 people in Africa and 9 people in France.
ROUGIER plans to use the net proceeds from the sale of the Owendo plant mainly to reduce its bank debt and to finance its working capital requirements.
Furthermore, ROUGIER informs its shareholders of a new extension to December 31, 2021 of the deadline for the Annual General Meeting called to approve the financial statements for the year ending December 31, 2019, requested and obtained from the Commercial Court of Niort by an order dated May 21, 2021. The company should therefore communicate its financial statements for the year 2019 before December 31, 2021.
Listing of the shares
As indicated in the press release of December 14, 2020, the listing of ROUGIER shares, admitted to trading on Euronext Growth Paris, remains suspended as of now and the resumption of the listing is not envisaged before the approval of the 2019 annual accounts.