Active Energy Group (AEG) established a separate affiliate company Timberlands International Plc, which will hold all of the current timberland assets controlled by AEG, along with forthcoming timberlands projects, which AEG acquires in the future.
According to the announcement, Richard Spinks, the group’s CEO, has been appointed to the board of Timberlands.
Earlier AEG announced restructuring of its operations.
About Active Energy:
The company is London Stock Exchange AIM-listed international supplier of industrial wood chip and timber, Biomass for Energy (BFE) fuel products, and forestry asset development services. It has several operational set-ups in different segments: in Ukraine, Canada, the U.K and the U.S. It is the largest producer and exporter of processed wood products (in the form of wood chip) in Ukraine. In 2014 it reported revenues of USD 17.395 million.