Libreville, January, 25 (infoplusgabon) – SOGAFRIC GROUP which used to number seven companies has decided to discard one of them – Industrielle et Forestière du Komo (IFK) – because of deficit, according to a report by the Group’s magazine published in Thursday.

According to a SOGAFRIC GROUP’ release issued in its in-home review “Ensemble”, a survey on the timber industry in Gabon based on forestry, industry and trading, was initiated after the devaluation of the CFA franc in 1994.

Since the first tree was felled in 2001, the rules and regulations on which the Group grounded its project have been changing unfavorably for five years.

The 8, 6 billion CFA francs of IFK’s share capital were lost and the managing board decided to discard this activity in the interest of the Group’s strategy.   

Following this decision, some actors of the timber industry were solicited so that they could take over this sector of the SOGAFRIC GROUP. This initiative was brought to a satisfactory conclusion on December, the 31th 2006.

SOGAFRIC GROUP now gathers the activities of the following six companies: SODIM TP, SOGAFRIC FROID, SOGI, TOYOTA GABON, SOGAFRIC PARTICIPATIONS and GESPARC.

The SOGAFRIC GROUP is managed by Mr. Romain BOUTONNET.