TWK Investments aims to secure supply with forestry acquisition
ZAR X-listed agriculture and forestry group is in talks to buy an 11,000ha forest in Mpumalanga and KwaZulu-Natal
TWK Investments (TWK), a diversified agriculture and forestry company, was in negotiations to buy an 11,000ha forest in Mpumalanga and KwaZulu-Natal, CEO Andre Myburgh said on Friday. The mooted purchase affirms the company’s strategy to invest in the value chain of timber-related product production and to expand own plantations to secure supply. TWK’s timber business sells about 1.45-million tons of round timber a year, about 10% of SA's total round-timber market. TWK, which is listed on ZAR X, operates through its timber, retail and mechanisation, financial services, grain and vehicles and tyres businesses. Myburgh singled out the acquisition of the forest and increasing the interest in subsidiary BedRock Mining Support to 55% as some of TWK’s priorities in the new financial year. BedRock provides underground mine support to the SA’s gold and platinum mines. “Through our strong cash flow generation and financial position we are well-positioned to capitalise on new opportunities,” ...
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