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 47 860 m3 of logs (previous year: 62 827 m3) and produced 29 850 m3 of veneer (previous year: 38 765 m3). Precious Woods Gabon was almost the sole supplier to the plant. CEB sold a total of about 66 545 m3 of logs (previous year: 81 500 m3) to customers on the local market, with CPL accounting for about 37 740 m3 or 56.7 %. Various investments to increase productivity could not yet be completed as planned in 2023, and the difficult market situation continued to have a negative impact on the result.
Sales from veneer production are generated exclusively by Precious Woods Holding Ltd. PW Gabon’s sales from the delivery of logs to CPL are not shown in the result at Group level because they were consolidated.