Danzer Group has sold its two Congolese subsidiaries SIFORCO and COTRACO to GBE in the Democratic Republic of Congo.
Danzer will continue to provide African timber products from its FSC-certified production of subsidiary IFO in neighbouring country the Republic of Congo.
SIFROCO is one of the largest timber concession owners in the DRC. It manages about 1.9 million ha of forest, sells logs and produces lumber, veneer, pallets and furniture. COTRACO is a road transport company.
Danzer started SIFROCO in 1972 as a green field investment and developed it to a company which employed almost 2,000 people before the civil war.
“We are happy that the new owners intend to follow our industrial and forest management concept,” said Hans-Joachim Danzer, CEO of Danzer AG.
Danzer Group concentrates on the production of decorative veneers and sawn timber from high-grade hardwood, employing about 2,200 people worldwide.
Danzer promised further investment projects for value-added timber products were “on the way”.
