Fourth Suriname timber concession for Greenheart Group

(De Ware Tijd) PARAMARIBO – Greenheart Group Limited (GGL), a timber multinational, recently acquired its fourth concession in Suriname when it signed a US$ 6 million lease contract with Suma Lumber Company NV (Suma). The contract calls for Suma to cede its exclusive exploitation, processing and marketing rights on the 91,750 hectares concession to GGL. This deals increases Greenheart’s concessions to 403,750 hectares: 128,000 hectares in the east 184,000 in the west and the recently acquired Suma concession in the center. GGL’s concessions now exceed those held by Bruynzeel Houtmaatschappij Suriname (BHS), which controlled 350,000 hectares of concessions. Greenheart earlier bought concessions from Octagon, Epro and Dynasty.

David Wu, Head of GGL Investment relations, confirms the deal, which includes control over the hardwood concession and two lumber mills. Suma had already invested in the infrastructure and regularly exported to the European market. With the deal GGL has acquired a FSC certified enterprise. FSC stands for Forest Stewardship Council, the highest certification awarded for sustainable wood cutting. Wu explained to dWT that his company goes for complete FSC certification. The Suma FSC certification is an important step for GGL, since it will serve as criterion and guideline to acquire FSC certification for all concessions. Andrew Fyfe, Head operations manager with GGL, said in a press release yesterday that agreements are important for his company. GGL has now reinforced its Suriname strategy because the company controls more than 400,000 hectares.  Besides the millions of dollars invested in the four takeovers, GGL is investing much money in exploitation facilities by putting up large lumber mills in the east and the west. The lumber mill in Apoera must be operational in 2012.



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