Woodbois to enter into MOU to offtake timber production in Liberia

Woodbois has entered into a Memorandum of Understanding with a leading West African timber supplier to offtake all of their timber production in Liberia. A formal offtake agreement is expected to be entered into in January 2020.

Under the terms of the MOU, Woodbois will have exclusive right of first refusal to purchase. The formal offtake agreement is expected to generate material additional trading revenue for the Group in 2020, with scope to increase as the agreement develops.

CEO Paul Dolan commented: “This agreement will allow us to further diversify the products we offer to our broad customer base. We are delighted that the organisation with whom we have partnered in Liberia, has recognised the advantages of supplying through the Woodbois brand.”

Woodbois is the African focused forestry and timber trading company.

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