In a statement published on its website, the sawmiller said the bids include the acquisition of all three sawmills and TTW Forest Management GmbH.

Klenk, which is currently in a restructuring process, launched a search for new investors at the end of 2012, with the deadline passing at the end of May.

Klenk’s chief restructuring officer, Dr Hanspeter Döhmen, said negotiations were taking place and he was confident of securing a new owner before the summer break.

Meanwhile, Klenk has reported a good financial performance in the first four months of the year, with production rates increasing slightly over a year ago.