Lesy CR sells holding in wood-trading company

At the beginning of June, the Czech national forest administration Lesy Ceské republiky (Lesy CR) sold its 50 % stake in the wood-trading company Hradecké lesní a drevarské spolecnosti (HLDS) of to the second shareholder, HLDS-CEO František Dejnožek. According to a release published by Lesy CR, the agreed purchase price was 60m CZK (roughly equivalent to 2.3m €). In the opinion of Lesy CR’s CEO, Josef Vojácek, the stake in HLDS that had existed since 1998 no longer made economic sense.

HLDS had marketed roughly 40 % of the roundwood felled by Lesy CR until 2010. According to Dejnožek, the total annual volume of sales has been around 2m m³ of roundwood. Owing to differing views on the strategic orientation of HLDS with the second shareholder, Lesy CR did not renew the supply contract that had existed at the end of 2010.

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