Veneer production
The activities of TGI and PDG were merged because both would be too small on their own to meet the high demands of the European market or to make the necessary investments. Precious Woods’ core competence lies in sustainable forestry and the initial processing of logs in sawmills. The strengths of the French partner lie in the production of veneer and plywood panels. Operations are currently still being carried out in the existing mills. In a further step, the activities are to be merged at the site of the former TGI in Owendo.
CPL processed about 62 827 m3 of logs (previous year: 59 163 m3) and produced 38 765 m3 of veneer (previous year: 34 634 m3). Precious Woods Gabon was almost the sole supplier to the plant. CEB sold a total of about 81 500 m3 of logs (previous year: 75 600 m3) to customers on the local market, with CPL accounting for about 53 700 m3 or 66 %. Various investments to increase productivity, as well as production changes and order mix, have already increased the yield. In the 2022 fiscal year, yield rose by 3.5 percentage points or 6 %.
Sales from veneer production are generated exclusively by Precious Woods Holding Ltd. As explained in the chapter on PW Gabon, this resulted in an increase in sales at PW Gabon in the amount of approximately EUR 12 million. Sales from the delivery of logs to CPL are not shown in this segment because of the consolidation.