Wednesday, January 27, 1999 12:18 PM
CORAL GABLES, Fla., Jan. 27 /PRNewswire/ -- Madera International, Inc.
(OTC Bulletin Board: WOOD) announced today that the company has received many
inquiries from shareholders concerned that the company is selling off the full
extent of the company-owned timberland assets in Brazil. Management states
that the company has no intention of selling the company-owned timber
producing property in the State of Amazonas in Brazil which accounts for 25%
of its total land holdings. These properties that are incorporated into a
company-owned and government approved Forest Management Program since 1994 are
not for sale. The company is, however, active today in the sale of land as
well as the sale of wood products, as outlined in its fully-owned subsidiary's
website www.ownatree.com.
Ramiro Fernandez-Moris, CEO of WOOD, stated that the sale of all dormant
land not used for timber harvesting by the company to organizations interested
primarily in its preservation will allow the company to better achieve its
industrial growth projects while at the same time continuing to preserve large
tracts of virgin timberland properties, positively accomplishing the goals of
our subsidiary in its environmental protection of efforts.
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. These operations are outlined in
the company's new website, www.maderaintl.com. 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.
For further information, please contact Raymond Bary at the NIBAR Group at
415-439-4857.
SOURCE Madera International, Inc.
CONTACT: Raymond Bary of NIBAR Group, 415-439-4857 for Madera
International, Inc.
1999, PR Newswire
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