Plywood Factory Development
- Raised US$48m of new money (taking total funds raised to c.US$120m).
- Break ground to on 13,000m2 factory extension in Ghana to extend veneer production operations to full plywood production (to be commissioned in 2021).
- 50,000 pole per annum CCA treatment plant commissioned in Sierra Leone
Edge Glue Panel Production
- Edge Glue Panel Production commences in Sierra Leone at pilot scale.
- Trading department commences, trading third party timber products into West Africa (thus building revenue and market presence).
Rotary Veneer Production
- Rotary veneer production commences in Ghana, selling export and into the local market.
Plantation Area Established Exceeds 10,000ha
Sawmilling commences in Sierra Leone
First Investment by CDC Group plc
- US10.5m equity and US$4.5m mezzanine debt commitment with Finnfund increasing to match.
First Investment by Finnfund
- US$6m mezzanine debt commitment.
First Investment by Aqua Ventures
- US$750,000 invested by Aqua Ventures.
First Eucalyptus Planted
Founded by Andrew Collins, CEO and Charles Bosworth, Strategy Director
- Small scale plantation development <20ha commencing in 2010