Jun 12, 2012. /Lesprom Network/. Guangdong Yihua Timber Industry plans to acquire 6 forestry companies registered in Gabon for 240 million yuan ($37.7 million), reports China Securities Journal. The transactions include a 75% interest in Huajia Wood, a 100% stake in Forest Development Export, a 100% interest in Wood Material Export Trade, and a 87.25% interest in Gabon Forest Wood Export. Following the acquisitions, the company will have a total of 350,000 hectares of forest, while its industry chain will be further extended. The acquisition will increase supplies of wood materials and lower manufacturing costs for Yihua Timber. Guangdong Yihua Timber Industry is a large joint-stock enterprise specializing in the production and sales of wood furniture, wood flooring.