/ 29 August 1999

PARTNER PULLS OUT OF FOREST BID

A FORESTRY consortium bidding for state-owned forestry assets said on Wednesday it will submit an offer on Friday despite the withdrawal of a key member of the group. Solly Tucker, Chairman of York Timber Organisation (Yorkor), said that Portuguese particle board maker Sonae told its partners in the Madiba Forestry Consortium it has withdrawn from the race. The consortium, which is bidding for government-owned commercial forests and the South African Forestry Company (Safcol), was made up of Yorkor, Sonae and black empowerment timber group Madiba Mills.