UK's Active Energy gets wood chip supply orders from Turkey's Yildiz Entegre

ISTANBUL (Turkey), January 12 (SeeNews) – UK-based industrial wood chip and timber supplier Active Energy Group said on Monday it has received two wood chip supply orders from Turkish medium density fiberboard (MDF) manufacturer Yildiz Entegre.

Under the agreements, Active Energy will deliver up to 300,000 metric tonnes of hardwood wood chip and up to 300,000 tonnes of softwood wood chip during the year, it said in a statement. The company expects to generate total revenues of more than $68 million (58 million euro) from the two contracts.

The first delivery of more than 30,000 metric tonnes of wood chip under the hardwood contract for 2015 will be loaded at Active Energy's Ukrainian Black Sea port facilities by the end of January on to two bulk cargo vessels. The company is negotiating time charter agreements, to commence in May 2015, for an additional two bulk carrier vessels to handle its softwood wood chip shipments.

Active Energy will supply the softwood chip from its new production line, which will become operational in May, at its production facilities in Ukraine.

Yildiz Entegre has a daily production capacity of about 8,500 cu m and exports its products to more than 40 countries, according to Active Energy.

($ = 0.846 euro)

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