JV between Ireland's state forestry, energy companies is 'practical approach' to delivering additional value for the state as shareholder, says forestry company Coillte, expects merger focusing on areas of overlap to optimize performance

DUBLIN , June 24, 2014 (press release) – Coillte fully supports the Government decision announced today to establish a new joint venture between Coillte and Bord na Mona focused on specific areas of overlap between the respective companies.

Over the past two years Coillte has worked constructively with Government to determine how best to capture the significant future opportunities for growth available to the company and optimise its performance and contribution to the State.

Coillte believes that today’s decision represents a practical approach to delivering additional value for the State as shareholder. Coillte is committed to implementing the new joint venture, which will focus on capturing synergies in wind energy, biomass supply, shared services and green tourism.

Coillte would like to thank the various Government Departments and NewERA for the constructive and thoughtful engagement that has taken place over the past two years.

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