The safeguard and turnaround plans were approved by Poitiers Commercial Court, less than one year after the start of the collective proceedings concerning Rougier S.A. and its subsidiary Rougier Afrique International, as the company said in the press release received by Lesprom Network.
These plans are based on an in-depth restructuring of the Group, making it possible to adapt its operational and financial structure in line with the needs of its business. It follows the divestment of loss-generating activities and non-strategic assets over the last 12 months.
Following this restructuring, the Group has definitively realigned its activities around timber and industrial production in Gabon and Congo, in addition to sales. It has also further strengthened its links with Gabon’s Caisse des Dépôts et Consignations. Alongside this, the collective proceedings have made it possible to restructure the Group’s debts in France and renegotiate its bank liabilities in Africa.
Poitiers Commercial Court’s approval of these plans marks the completion of the safeguard proceedings for Rougier S.A. and the court-ordered receivership proceedings for its subsidiary Rougier Afrique International. Trading in the company’s shares, admitted for trading on Euronext Growth Paris, is still suspended, with no immediate plans for trading to resume.
Founded in 1923, the Rougier Group is a market leader for certified African tropical timber, with operations covering natural forest harvesting in Central Africa, industrial transformation and international trade.