Masonite plantations and mill up for sale

April 26, 2016
Masonite-plantation

One of Masonite’s seven plantations, situated in the KZN midlands.

Masonite Africa’s board factory at Estcourt and its forestry assets in the KZN midlands are up for sale.

This follows a decision by the board in December last year to initiate voluntary business rescue proceedings after the company experienced tough trading conditions through 2015.

Finance was raised to enable the company to continue trading while the Business Rescue Practitioner, Pierre de Villiers Berrangé, seeks a buyer for the business.

Non-binding offers for the business were received from potential bidders, and a shortlist has been chosen to participate in phase two of the transaction process.

Binding offers were due to be lodged in mid-April.

Masonite Africa Ltd is listed on the Johannesburg Stock Exchange, and is 80% owned by USA-based Masonite International Corporation. The company owns seven plantations in KwaZulu-Natal with a total land holding of 22 548, of which 16 897 is planted to mainly eucalyptus and wattle. The plantations supply timber to the company’s Estcourt mill which produces hardboard, softboard and ceiling boards.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Husband and wife team Nomthandazo Hlombe and Fisokuhle Ngcobo, NCT’s Tree Farmers of the Year 2021, demonstrate how to establish and build a sustainable tree farming operation in faraway Matimatolo, near Kranskop in the KZN midlands. By Samora Chapman. ...

The largest mangrove reforestation project in Africa has been launched by Mozambique’s Ministry of Sea, Inland Waters and Fisheries (MIMAIP) in partnership with Blue Forest, a UAE-based mangrove reforestation specialist. Read more saforestryonline.co.za.

📸 Lake St Lucia, Chris Chapman.
...

The National Minimum Wage (NMW) in South Africa for 2022 has been set at R23.19 per hour, which translates to R185.52 for an eight-hour day, and R3 710.40 for a month with 20 working days. This represents a 6.9% increase over the 2021 NMW. Can employers afford it? Link in bio... #forestry #labour
📸 Chris Chapman
...

With the onset of what promises to be a cold winter, this photo provides a timely reminder of what happens to wattle trees when it snows. No! It’s not a good idea to plant wattle if snow is a possibility. The only thing you could use these broken trees for is firewood. The photo was taken near Weza a few years ago. Find out more about trees and snow... saforestryonline.co.za Link in bio. #trees #wood #forestry #timber #logging #forestryafrica #wattle #snow ...

cross
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram