industryterm:wood chip

  • Ukraine-based wood firm extends reach to Canada
    http://www.kyivpost.com/content/business/ukraine-based-wood-firm-extends-reach-to-canada-357835.html

    Active Energy Group, a Ukraine-based supplier of wood chip and timber products traded on London’s Alternative Investment Market, on July 15 started a landmark forestry joint venture with three indigenous aboriginal groups in Alberta.

    The business has the exclusive right to commercialize more than 100,000 hectares of mature forests belonging to Metis Settlements, descendants of European fur traders and aboriginal peoples.

    The Métis Settlements and Active Energy Group will each hold a 45 percent equity interest in the project, which will be incorporated in Canada and headquartered in Kelowna, British Columbia, with the remaining equity to be held by Ronald M. Derrickson. He and Active Energy CEO Richard Spinks of England met in Ukraine in 2008 when they were both involved in agriculture.

    Active Energy Group will commit to commercialize the forestry assets in exchange for its equity stake. According to the firm’s statement, the forests are primarily composed of mature standing aspen and poplar hardwood and spruce, pine and fir softwood species. The joint venture will be allowed to enter into subleases with third parties for approximately 200 years to help the “long-term economic development for the Metis peoples, in collaboration with international investors and commercial partners,” the statement says.
    (…)
    Who owns the company isn’t as clear as its financial figures and operations. Spinks declined to say who actually owns Active Energy. According to its annual report, its largest shareholders are Gravendonck Private Foundation (Holland) with 30.5 percent, Eastwood SA (Luxembourg) with 12.22 percent, Windstar Investment SA (Panama) with 11.38 percent, Brahma Finance Limited (Monaco) with 3.89 percent, and Otkritie Securities Ltd (U.K.) with 3.4 percent
    Incorporation information of the shareholders was provided by the Organized Crime and Corruption Reporting Project, a Kyiv Post partner.

    One shareholder, Otkritie, is Russia’s largest independent financial group by assets, which exceed $51 billion. Otkritie’s major shareholders currently include Vadim Belyaev of IFD Kapital Group, Ruben Aganbegyan of ICT Group, LUKOIL-GARANT Private Pension Fund, Alexander Mamut, and Sergey Gordeev, according to company information.