Nov 27, 2009. /Lesprom Network/. Precious Woods successfully concluded the talks with the banks on the mid-term financing of the Group. The agreement contains the continuation of the existing credit lines as well as the restructuring of the existing loans, the company said in a press release received by Lesprom Network. The Board of Directors and the Group Management have initiated a comprehensive action plan which will sustainably improve the group’s market position and profitability as of 2010. The challenges in the current market conditions however remain demanding. Emerging markets in Asia and Latin America show early signs of recovery, which should further improve the market position of Precious Woods. Precious Woods Gabon is well on the way to be fully FSC certified. The subsidiary TGI with the veneer factory in Libreville has successfully passed an audit of the FSC accreditation program conducted end of October by an independent certification body. The company is looking forward to being certified in December 2009. The upcoming granting of the highly regarded certification follows one year after the FSC certification of the subsidiary CEB for its forestry activities and industrial operations (sawmill and moulding factory). Having reached this milestone, the Precious Woods Group will prospectively rank among the first companies in the tropical forestry and timber industry to have fully FSC certified forest resources, forestry activities and industrial operations.