Diversified agriculture and forestry company TWK Investments will continue to look for potential acquisitions despite its failure to buy an 11,000ha forest in Mpumalanga and KwaZulu-Natal, says CEO Andre Myburgh. The investment in plantations would secure security of supply in light of growing export demand, Myburgh said on Friday. The company, which is listed on ZAR X, operates through its timber, retail and mechanisation, financial services, grain and vehicles and tyres businesses. Speaking after the release of its results for the six months to end-February, in which revenue climbed 4% to R3.9bn, Myburgh said the mooted transaction for the 11,000ha fell through “due to pricing issues”. He said the Piet Retief, Mpumalanga-based company is, however, on the lookout for potential acquisitions. “There is a growing demand for TWK wood chips in the export market and it is expected that export volumes will increase in the coming year with a concomitant increase in the price of exported ch...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now