Teak Holz Cancels Capital Increase

Businessn.a. ♦ Published: September 24, 2011; 02:49 ♦ (Vindobona)

The Upper Austrian timber company will delay its expansion to a later point in time. Forest management and other projects are not affected by the decision.

Teak Holz Cancels Capital Increase / Picture: © Vindobona.org

The Board of the Teak Holz International AG (THI) decided to cancel its capital increase. According to the underwriter Semper Constantia Privatbank, demand was too low due to currently difficult market conditions.

The decision will not affect THI’s forest management business or other projects currently under preparation, the company emphasized in its press release of Friday.…