The transaction concerns DLH’s business unit exporting Russian plywood to the US with an annual turnover of approximately DKK 70 million ($12.6 million) in 2013. The transaction will result in net proceeds of DKK 35 million ($6.3 million) in cash and DLH will realize a gain of DKK 3 million ($539,879) on the transaction.
“I am pleased to announce this transaction following our strategy change. Our skilled and loyal employees in the US trading business have gotten a new home where I am sure they will pros-per and continue to grow the business. For DLH it is another step in realizing the strategy ap-proved in January 2014 and I am glad we were able to conclude it on satisfactory terms,” says CEO of DLH Kent Arentoft.
DLH is one of the world's major timber wholesalers with sales and procurement offices in more than 25 countries on 5 continents.
Founded in 1886, Central National-Gottesman Inc. is one of the largest privately held pulp, paper, packaging and tissue companies in the world.
