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Friday January 22, 8:00 am Eastern Time
Company Press Release
SOURCE: Madera International, Inc.
Madera Announces Marketing Agreement With Keyes Company
CORAL GABLES, Fla., Jan. 22 /PRNewswire/ -- Madera International, Inc. (OTC Bulletin Board: WOOD - news) announced today that the company has entered into an exclusive marketing agreement with Keyes Company, the largest privately- owned realtor in South Florida and one of the largest realtors in the United States, whereby Keyes will act as agent on behalf of Madera, in the sale of the company owned land holdings in Brazil.
Ramiro Fernandez-Moris, CEO of WOOD, stated that the company is now focused on growth and will convert a good portion of the company owned timberland assets in Brazil into solid industrial growth by their subsequent sale. The company is in position to approve expansion projects such as the acquisition of two more sawmills, a plywood plant, and equipment to manufacture finished products such as furniture parts and moldings, once the land sales have been finalized. The company will also increase its environmental replanting programs with the additional funding achieved from these land sales.
This exclusive marketing agreement calls for the sale of company owned timberland in the State of Amazonas in Brazil for a total price of US$ 96 million, with an option for the sale of equal one-third portions. Mr. Rudy Pitaluga, Director for Keyes Company's International Division in South Florida, stated that Keyes has received numerous inquiries from various international companies interested in purchasing these properties. There appears to be a good demand for land in these parts of the world because it is expected to increase in value very rapidly in the coming years.
Madera further announced that the address to its new website that is expected to be completed before January 31, 1999, is www.maderaintl.com. Madera is a wood products company involved in the environmentally sound harvesting of hardwood and exportation of the products derived from Brazil and Peru into the U.S., and Caribbean markets. Madera's fully-owned subsidiary, Madera International Environmental, Inc. is active in a stewardship position in several programs dedicated to Helping to Preserve the Rainforest. These programs are described in the subsidiary's website at www.ownatree.com and www.replantatree.com.
For further information, please contact Raymond Bary at the NIBAR Group at 415-439-4857.
SOURCE: Madera International, Inc. |
