Duratex Florestal entered with Fibria Celulose S.A. into a private agreement of sale and purchasing of timber, through which Duratex Florestal sold eucalyptus trees located in the State of São Paulo, Brazil, in the total amount of BRL 74.8 million ($21.9 million).
Part of the transaction amount, of approximately 50%, is going to be booked in the fiscal year of 2016 and the remaining part is going to be booked as of the fiscal year of 2017.
In addition, the responsibility and the costs regarding harvesting and the transportation of the sold timber belong to Fibria.
Such timber sale is part of the Company’s strategy of adjusting its current excess of forestry assets; thus, with no impact in its own wood supply geared for its panel making process.
