GFP has 57,000ha of plantations in South Africa with three sawmills and a plywood plant. It is 70% owned by US-based international investment management firm Global Environment Fund and the remainder by the Industrial Development Corporation.
York announced it is seeking to acquire a 70% stake, but gave no more details.
York saws and converts round softwood into a range of sawn lumber products, such as roof timbers, scaffolding, furniture components, wood laminates and wood chips.
The company reported revenue for the year-end rose 39% to R394m, boosting operating profits by 50% to R42m.
Earnings per share up were up from 57 cents to 284 cents. York attributed the increase to softer lumber markets, substantially higher log prices and more flexible production processes.
