euro adhoc: Precious Woods Holding AG, Zug
other
Precious Woods closes two
agreements to sell CERs
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
09.10.2006
Precious Woods has closed two firm Emission Reduction Purchase Agreements (ERPAs) to sell 770,000 tons of CO2 equivalent between 2006 and 2012. The contracted volume amounts to over 50% of the current and expected future production of Certified Emission Rights (CERs) until 2012 from its fuel switch and methane reduction project in Itacoatiara, Brazil. Based on these two firm agreements, the Precious Woods Group expects the revenue of its Carbon and Energy business segment to be in the region of USD 10 million and net profits from this segment to be in excess of USD 5 million in 2006.
The net proceeds from the sale of CERs will be employed to finance the further expansion of the Group's sustainable forest operations in Latin America and Africa. The Precious Woods Group strives to conduct all of its forestry operations in accordance with the strict ecological and social criteria of the Forest Stewardship Council (FSC).
Precious Woods (SWX: PRWN) is active in the reforestation and sustainable management of tropical forests, downstream wood processing and trading of FSC certified timber and non timber forest products. The shares of Precious Woods have been listed on the SWX Swiss Exchange since March 2002. More information about the Company and its activities may be found on the website www.preciouswoods.com.
end of announcement euro adhoc 09.10.2006 19:15:25
Kontakt:
Precious Woods Holding AG, Zug
Dr. Theodor Scheidegger, MD Carbon & Energy / CFO
Tel. 41 1 245 80 10
mailto:office@preciouswoods.ch
Branche: Forestry & Timber
ISIN: CH0013283368
WKN: 982280
Index: SPI
Börsen: SWX Swiss Exchange / official dealing