Active Energy Group (AEG) informed that the company expects to conclude new 2016 off-take contracts with the Turkish MDF manufacturing customers by the year-end.
Despite expected commissioning of a new softwood production line in Ukraine in 2Q2015, the company’s board anticipates that as in previous years, customer demand is likely to exceed AEG WoodFibre division’s production capacity.
In July the company decreased its softwood wood chip production forecast for 2015 from 100kt to 50kt due to delays in the equipment supply, erection and commissioning.
Earlier AEG announced that from December 2015 each of group’s three trading divisions will operate under its own distinct identity: AEG TimberLands, AEG WoodFibre, AEG CoalSwitch.
About Active Energy Group:
The company is London Stock Exchange AIM-listed international supplier of industrial wood chip and timber, Biomass for Energy (BFE) fuel products, and forestry asset development services. The company has several operational set-ups in different segments: in Ukraine, Canada, the U.K and the U.S. It is the largest producer and exporter of processed wood products (in the form of wood chip) in Ukraine. In 2014 it reported revenues of USD 17.395 million.