Dovre Group Plc Press Release July 26, 2018 at 8.50 a.m.
SaraRasa has agreed to sell its 12 months’ production
Dovre Group’s joint venture SaraRasa Bioindo Pte Ltd. has agreed with Cellmark AB to supply its entire production of pellets for the next twelve months for the Korean market. The value of the 12-month production is about USD 5 million.
SaraRasa pellet factory was also awarded in May 2018 the FSC certificate (Forest Stewardship Council) to prove that its pellets are responsibly produced and environmentally sustainable. The company expects the FSC certificate to have a positive impact on the price of its pellets as well as their marketability.
SaraRasa is currently seeking for third party investors to build another pellet factory in Indonesia. Dovre Group Plc holds 20% of joint venture SaraRasa’s shares.
For further information, please contact:
SaraRasa Bioindo Pte. Ltd.,
Ilari Koskelo, Chairman of the Board
ilari.koskelo@navdata.fi
Dovre Group Plc
Mari Paski, CFO
mari.paski@dovregroup.com
tel. +358 20 436 2000
www.dovregroup.com
Dovre Group is a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. Dovre Group has offices in Canada, Finland, Norway, Russia, Singapore, the UAE and the US, and employs more than 500 people worldwide. Dovre Group is listed on the Nasdaq Helsinki (symbol: DOV1V).
SaraRasa Bioindo Pte. Ltd., a pellet producer using residual materials from wood working industries, owns and operates a wood pellet production line in Surabaya, Indonesia. SaraRasa’s main shareholders are Navdata Oy, Dovre Group Plc and Finnfund. .
CellMark AB is a global supply chain service company. Founded in 1984 in Gothenburg, Sweden, CellMark has its roots in the international trade and distribution of raw materials related to the global Pulp and Paper Industry. Today, CellMark’s has seven divisions. Its Energy division promotes the production, trade and proliferation of biomass-based alternative energy fuels and other waste-to-energy commodities for more intelligent sources of heat and power. CellMark’s annual sales are USD 2.9 billion. www.cellmark.com
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