Rougier - Sylvaco Panneaux

Dec 6, 2018

ROUGIER : Press release | Source: ROUGIER Press release The Rougier Group is announcing the finalization of the sale of Rougier Sylvaco Panneaux to the Malvaux Group and the appointment of Mr Francis Rougier as Chairman and Chief Executive Officer. Finalization of Rougier Sylvaco Panneaux's sale to the Malvaux Group After completing all the authorizations required, the Rougier Group has finalized the sale of 100% of the capital of Rougier Sylvaco Panneaux, specialized in importing and distributing timber and plywood in France from all origins, to the Malvaux Group. Rougier had announced the start of exclusive negotiations on November 20. This sale is in line with the realignment of the activities. This operation represents a significant step in the activities reorganization plan rolled out over the past year and leading to the approval of the recovery plan during the first half of 2019. Appointment of Rougier SA's Chairman and Chief Executive Officer During the Board of Directors meeting held today, Mr Jacques Rougier announced that he was standing down from his position as Chairman of the Board of Directors, reached by the age limit set in the statutes, while remaining on as a company director. The Board appointed Mr Francis Rougier as Chairman and Chief Executive Officer of Rougier SA with effect from today. His appointment is in line with the Board's desire to ensure the continuity required to finalize the restructuring of the business. About Rougier Founded in 1923, the Rougier Group is a market leader for certified African tropical timber, with operations covering natural forest harvesting in Central Africa, industrial transformation and international trade. ISIN: FR0000037640 - ALRGR