Forest & Wood Products
Oct 10 (Reuters) - Greenheart Group Ltd <0094.HK>:Refers to news articles reporting certain statements made by CEO Wu Wai Leung Danny.Intends to develop light assets business especially in Inner Mongolia.Clarifies co in renewal process for 127,000 hectare west suriname forest concession, co currently holds rights to 195,000 hectares.No concrete plan to implement Inner Mongolia strategy besides acquisition of Northland Forest Managers (1995) Ltd.Notes co's plan to develop light assets business in Inner Mongolia and targeted revenue & return contribution from light assets business.
Oct 9(Reuters) - Guangxi Fenglin Wood Industry Group Co Ltd <601996.SS> ::* Sees Q1~Q3 FY 2017 net profit to increase by 55 percent to 75 percent.* Says Q1~Q3 FY 2016 net profit was 72.4 million yuan.* The reasons for the forecast are improved fiberboard business and updated particleboard products and booming production and marketing situation of wood-based panel products as well as sharply increased VAT refund .
Samko Timber Ltd
Nankai Plywood Co Ltd <7887.T>:Says it dissolved Shanghai-based building material subsidiary on Aug. 9.
T.O.Ogasawara Co Ltd <9812.T> : Says it plans to set up three wholly-owned subsidiaries based in Hokkaido as the successor preparatory companies in early Sep. .Says it will transfer all business to the three newly established subsidiaries and a wholly owned comprehensive service subsidiary, and restructure itself into holding company, effective June 1, 2017.
Takasho Co Ltd <7590.T>: Says the co will dissolve a wholly owned unit NIHON INTEGRATE INC, which is engaged in business of planning, production, publication and sales .Says effective date in mid of January, 2017.
Acadian Timber Corp:Says Board of Directors has initiated a review of strategic alternatives, which may include, among other things, a sale of all or parts of its business, a merger or other business combination or other strategic transaction.Board of Directors has formed a Special Committee, which has engaged Scotiabank as its financial advisor, to assist in this process.Company does not intend to provide further updates on its strategic review until such time as the Board of Directors determines is appropriate.
ORVIS CORP:To merge with a Fukuyama-based wholly owned subsidiary, which is engaged in management of karaoke and golf course, on May, 2016.The subsidiary will dissolve after merger.