French Rougier sells subsidiaries to refocus activities
Jul 27, 2006. French wood-processing and forestry management group Rougier SA has sold two of its subsidiaries.
Jul 27, 2006. /Lesprom Network/. French wood-processing and forestry management group Rougier SA has sold two of its subsidiaries as part of a strategy to refocus on core activities, the company said on July 25, 2006.
The company sold 100% of the capital of veneered panels maker Marotte to local decorative laminate maker Ober SA for Euro 4.0 million on July 21, 2006. Marotte is expected to generate a turnover of Euro 7.5 million, of which 25% from exports, and a net profit of Euro 450 000 in 2006.
Rougier also sold its Gabonese subsidiary Ciplac, which holds a forestry concession, to an unnamed foreign company. The concession is of an insufficient scale, which does not allow its profitable exploitation, Rougier noted.
The two transactions will have a significant positive impact on the cash position and consolidated financial results for the second half of 2006, Rougier noted.