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Dovre Group Plc (0JCD)

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Tuesday 30 April, 2019

Dovre Group Plc

SaraRasa has agreed to sell its next 12 months’ production

SaraRasa has agreed to sell its next 12 months’ production

Dovre Group Plc                                Press Release                                  April 30, 2019 at 09.30 a.m.

SaraRasa has agreed to sell its next 12 months’ production

SaraRasa Bioindo Pte. Ltd. has agreed with Cellmark Ab to supply its entire production of pellets for the next twelve-month period starting in June for the Korean market. The value of the 12-month production is about USD 7 million (comparable period 2018–2019 USD 5 million).

The improvement in the revenue is partly caused by stable market prices and partly by increased capacity due to installation of a 3rd pelletizing machine. SaraRasa's pellets are perceived by customers to be of high quality, which is further evidences by the FSC (Forest Stewardship Council) and SVLK certificates that the company holds to prove that its pellets are responsibly produced and environmentally sustainable.

SaraRasa is currently still seeking for investors to build another pellet factory in Indonesia. The new factory project has been delayed in favor of increasing capacity in the current factory. Dovre Group Plc holds 19.9% of SaraRasa’s shares and presents the ownership as a financial asset at fair value through profit and loss.

For further information, please contact:

SaraRasa Bioindo Pte. Ltd.,
Ilari Koskelo, Director
[email protected]

Dovre Groupis a global provider of project management services. Dovre Group has two business areas: Project Personnel and Consulting. The company has offices in Canada, Finland, Norway, Singapore and the
USA 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 major shareholders are Navdata Oy, Dovre Group Plc and Finnfund.

CellMark ABis 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 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 environmentally conscious materials for heat and power. CellMark’s annual sales are USD 2.9 billion.

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