Company Information:
CORPORATE HEADQUARTERS:
570 Lexington Avenue, 45th Floor
New York, NY 10022
administration@tmbe.com
Timber Resources International, Inc. is a Delaware corporation with principal offices in New York City.
The Company is quoted on the Over-the-Counter Bulletin Board under the symbol "TMBED".
Timber Resources International is a rapidly expanding company that is aggressively pursuing mergers, acquisitions and strategic alliances to capture a significant market share in high-margin value-added forest products. The Company is dedicated to the development of underutilized forest resources for specialty niche markets worldwide.
Timber Resources International is committed to meeting the international environmental standards of the Forest Stewardship Council (FSC).
The current situation in the world timber market is characterized by growing restrictions on harvesting operations in North America and Europe. This has created the need to find alternative long-term sources of wood to meet this emerging supply deficit.
Timber Resources International is positioning itself to bridge the growing gap between demand and supply. The Company is focusing on types of wood products that show increasing market share along with insufficient availability from traditional sources. Timber Resources International sees the business potential that exists in countries with transitional economies that have vast underutilized timber resources.
Marketing Strategy
The Company is focusing on developing niche markets for specialized products, such as square lumber, various unassembled furniture components, architectural moldings and hardwood flooring. Timber Resources International's goal is to meet or exceed the highest international standards of reliability and continuity of supply.
The Company's mission is to become one of the leading global integrated forest products enterprises by capturing high margin niche markets. The strategic plan of business development involves the acquisition of a number of operating timber companies as well as a program of exploiting underutilized global forest resources.
In June 1999, Timber Resources International acquired Southern Hardwoods, Inc., a fully equipped operating sawmill located in the Port of Pensacola, Florida. Southern Hardwoods specializes in exotic tropical species, such as jatoba, greenheart, tatabu, teak, and mora. The Company is installing additional equipment to support its upcoming new flooring line.
Timber Resources International owns an interest in Forestworld.com, Inc., the world's leading Internet portal for the timber industry. This strategic alliance gives Timber Resources International access to a global infrastructure for timber buying and selling over the Internet, with a potential link to an extended customer and supplier base worldwide.
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Wednesday October 13, 11:20 am Eastern Time
Company Press Release
Timber Resources International Reaches Initial Production Targets
NEW YORK--(BUSINESS WIRE)--Oct. 13, 1999--Timber Resources International, Inc. (OTCBB:TMBED - news) announced today that its wholly owned subsidiary, Southern Hardwoods Inc., reached its initial production goal of 10,000 board feet of sawn lumber per day, and is targeting 20,000 board feet per day by the end of December.
The Southern Hardwoods, Inc. sawmill is strategically located at the Port of Pensacola, Florida (http://www.portofpensacola.com). In September, the company imported 1200 cubic meters of exotic tropical hardwoods through the port. The hardwood was from Guyana, South America, and included such species as purpleheart, mora, shibadan, greenheart and jatoba.
``Operating out of the Port of Pensacola is working extremely well for us and we feel it is an excellent, central location with room for us to expand,' said Hank Midden, President of Southern Hardwoods.
Timber Resources International has identified Guyana, South America as a long-term source of a number of species of exotic tropical hardwoods. The Company is seeking to strengthen its position in Guyana to capture a significant market share in the export of tropical wood species. The projections for the year 2000 are to import up to 100,000 cubic meters of logs and rough sawn lumber.
The Company's ongoing operations and strategic development have been funded through $400,000 of financing received in June - August and a prior $600,00 received in April 1999. Both were negotiated by Villiers Capital Partners, LLC, a New York based investment banking firm.
Timber Resources International, Inc. is a fast-growing, rapidly expanding company in the multi-billion-dollar forestry industry that is aggressively pursuing mergers, acquisitions and strategic alliances to capture a significant market share in high-end and value-added wood products. The Company is dedicated to the development of under-utilized forest resources for specialty niche markets worldwide.
Timber Resources International, Inc. is committed to meeting the international environmental standards of the Forest Stewardship Council (FSC).
More information can be found on the Company's web site at tmbe.com or by contacting investor relations at 301/570-0476.
This press release contains certain forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements.
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Contact:
Timber Resources International, Inc.
by
IC Services
William H. Quigley, Investor Services, 301/570-0476
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Share Information
Outstanding: Approx. 884,000
Float: Approx. 333,000
Management & Corporate Officers
Timber Resources International senior management draws upon in-depth knowledge of the forest products industry, company start-ups, financing, business operations, and mergers and acquisitions. The Company is building a highly qualified team to manage the production, sales and marketing of wood products.
Aziz Hirji, Chairman of the Board, President & CEO
Mr. Hirji has over 25 years of international business management and investment experience. He is the founder, Chairman and CEO of Timber Resources International, Inc., where he directs the strategic and business development of the company. Prior to founding Timber Resources International, he held senior executive and director positions in a number of private companies in North America and Europe, covering a wide range of industries with a particular emphasis on construction and timber. He has headed several timber related projects, involving financing, restructuring and strategic planning. Mr. Hirji also has extensive experience in public and private capital raising transactions. He is a founding Chairman of Villiers Capital Corporation, an investment banking firm. Mr. Hirji is a graduate of the International Institute of Management in Glion-Sur-Montreux, Switzerland.
Anna Petinova, Ph.D., Vice President - Administration & Finance
Secretary/Treasurer & Director
Dr. Petinova is a member of the Board of Directors and has a strong background in business development and extensive experience in the corporate environment. Her duties include overseeing corporate finance, and management of administration and investor relations. Dr. Petinova is cofounder and Managing Partner of Villiers Capital Corporation, an independent private investment banking firm. During the last four years, she co-led several investment projects assisting companies in raising financing and going public. Prior to joining Villiers Capital Corporation in 1996, Dr. Petinova held senior management positions in several US companies where she was extensively involved in financing privately held middle market companies serving the forestry and construction sectors.
Hank Midden, Vice President, Operations
President, Southern Hardwoods
Mr. Midden brings to Timber Resources International, Inc., nearly four decades of experience in business ownership and management, operations and national sales, including 28 years in timber-related enterprises. In 1971, Mr. Midden founded Bartley Lumber and Material Company, a sawmill and logging operation in Florida, which he built into the largest mill in the area, averaging approximately $1.5 million in sales per year. From 1981 to 1983, Mr. Midden was a factory representative for the top sawmill and logging equipment manufacturer in the U.S., Morbark Industries, where he designed and supervised the installation of turnkey sawmills. In 1983, he founded Midden Lumber & Equipment Company, also in Florida, which specializes in wholesale lumber and equipment sales and the design and installation of sawmill equipment.
Peter Maharaj, Vice President - Marketing
Peter Maharaj brings more than a decade of experience in marketing, strategic planning and management to Timber Resources International. During the last few years, he has directed the export marketing programs of large timber and forest product companies in Guyana, Suriname, Chile and Argentina, developing marketing strategies targeted at niche markets in the U.S.A., Europe and the Caribbean. Mr. Maharaj is the former president of Timber Traders S.A. Inc., a timber brokerage firm based in Guyana. His past experience also includes contract negotiation, project management, and business administration in real estate and construction. His family has been in the forestry business for over 40 years with commercial teak and mahogany properties in Trinidad. Mr. Maharaj received his MBA from the University of West Indies.
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Tuesday October 5, 8:15 am Eastern Time
Company Press Release
Timber Resources International Strengthens Management
NEW YORK--(BUSINESS WIRE)--Oct. 5, 1999--Timber Resources International, Inc. (OTC BB: TMBED) announced today two management appointments.
Peter Maharaj has been appointed Vice President of Marketing. Mr. Maharaj has more than a decade of experience in the timber business, including extensive knowledge of markets in Central and South America and the Caribbean. Most recently, Mr. Maharaj directed the export marketing programs of large timber and forest product companies in Guyana, Suriname, Chile and Argentina.
His experience includes developing marketing strategies targeted at niche markets in the U.S.A., Europe and the Caribbean. Mr. Maharaj received his MBA from the University of West Indies.
In addition, Mr. Hank Midden, Timber Resources International's Vice President of Operations, has been appointed President of Southern Hardwoods, Inc., the Company's wholly owned subsidiary in Pensacola, Florida.
``Timber Resources International continues to grow very rapidly and we are very fortunate to be able to attract executives with strong and diversified experience in the industry,' said Aziz Hirji, Chairman of Timber Resources International. ``These nominations enhance our ability to tap the niche market in exotic hardwoods and give us good reason to be very excited about our potential for further growth.'
Timber Resources International, Inc. is a fast-growing, rapidly expanding company in the multi-billion-dollar forestry industry that is aggressively pursuing mergers, acquisitions and strategic alliances to capture a significant market share in high-end and value-added wood products. The Company is dedicated to the development of under-utilized forest resources for specialty niche markets worldwide.
Timber Resources International, Inc. is committed to meeting the international environmental standards of the Forest Stewardship Council (FSC).
More information can be found on the Company's web site at or by contacting investor relations at 301/570-0476.
This press release contains certain forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements are based on the beliefs of the Company's management as well as on assumptions made by and information currently available to the Company at the time such statements were made. Actual results could differ materially from those included in such forward-looking statements.
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