adminof the forestry sector.
This would be the final stages of the proposed restructuring of the company.
Currently, the Ministry of State Enterprises and Parastatals is in discussions with Allied Timbers and the Ministry of Environment and Natural Resources Management on the restructuring of the forestry firm.
“The restructuring strategies will be guided by the need to recapitalise the company in an effort to improve technology in forestry plantation and the expansion of the value addition production base,” said Minister of State Enterprises and Parastatals Gorden Moyo.
“This process will be completed by the possibility of listing on the (Zimbabwe) Stock Exchange to facilitate the indigenisation of the sector.
“The restructuring memorandum once prepared by the line ministry will be presented for consideration by the Inter Ministerial Committee on Commercialisation and Privatisation of Parastatals and Cabinet.”
Border Timbers and Hunyani Holdings are the only companies involved in forestry and timber business, listed on the local bourse.
Allied Timbers, through its subsidiaries, is involved in planting, harvesting, processing, marketing and selling timber products for construction and furniture industries, locally and as well as abroad.
Among products offered by the company are laminated timber products, transmission and light poles, and round wooden poles; and veneer and plywood products, brandering, roof trusses, mouldings, doors, flooring, cover strips, and blackboards, as well as honey.
It also provides engineered blocks used for panel doors and mouldings.
In the Sadc region, the company exports its products to Botswana, Namibia and South Africa. It also sells its products to the US.
Previously known as Forestry Company of Zimbabwe, Allied Timbers rebranded in 2007.
Online Reporter