LONDON (Alliance News) - Timberland management and development services company Active Energy Group PLC on Monday said it has secured two supply contracts for 2016 and will invest in a new softwood production line.
Active Energy said it has signed two contracts with Turkish MDF manufacturer Yildiz Entegre to deliver up to 300,000 metric tonnes of hardwood wood fibre products, along with another 200,000 metric tonnes of softwood.
The deals are expected to generate in excess of USD50.0 million in revenue in 2016.
In addition, the company said it has invested USD750,000 to acquire the equipment needed to manufacture softwood from pine logs.
Active Energy shares were up 20% to 6.125 pence early Monday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Active Energy (AEG)