Home THE DAILY EDGE Business Olam acquires 100% stake in Danish tt Timber for $52m
Olam acquires 100% stake in Danish tt Timber for $52m

Tags: Olam International

Written by The Edge   
Wednesday, 15 December 2010 20:12
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Olam acquires 100% stake in Danish tt Timber for $52m
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Olam International, the leading global, integrated supply chain manager and processor of agricultural products and food ingredients, says it has acquired 100% of the equity share capital of tt Timber International, a subsidiary of Dalhoff Larsen Horneman A/S Group (DLH), for €29.6 million ($51.6 million).

Olam says the proposed acquisition would be funded through internal accruals and is expected to close by the middle of January 2011.

DLH is a 100-year-old Danish-owned group quoted on the Copenhagen Stock Exchange and is one of the leading suppliers of timber and timber products manufactured from sustainably produced raw materials.

tt Timber owns forest concessions rights for 1.3 million hectares of natural tropical hardwood forest in the Republic of Congo and 300,000 hectares in the Republic of Gabon respectively.


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Last Updated on Wednesday, 15 December 2010 20:19
 

Comments 

 
0 #1 Peng Hock Lee 2010-12-16 18:14 Believe Olam buying into "discontinued production"of DLH which was proven to be very challenging. Although the capex is small, the Olam profile into such activities will sap management resources. Olam should digest recent acquisitions than continue expansion. Commodity prices today is not driven by demand alone but stockpiles, speculating thru paper trades etc.