TWK eyes forestry acquisitions as timber export demand surges
Diversified company says its planned purchase of a 11,000ha forest in Mpumalanga and KwaZulu-Natal fell through
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...
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