DLH (Dalhoff Larsen & Horneman A/S) has decided to initiate the closure of its French subsidiary. The process is expected to be completed during the next six months. During this period DLH will continue its effort to sell all or parts of the French unit, as the company said in a press release.
DLH will record a provision of DKK 15 million ($2.2 million) in the 2015 accounts on the French assets. The Nordic business unit is unaffected by the decision concerning DLH France.
Back in 2014, DLH's General Assembly decided to dispose of all the Group's companies and operations. Since then, a number of the Group's assets, businesses and companies were sold or closed.
In March 2015, DLH has entered into an agreement with the local management about sale of its Russian and Brazilian companies.
In 2014, DLH sold its hardwood business to A/S Global Timber at a value of DKK 10 million (EUR 1.3 million) and its its Global Sales entities to the Austrian company Frischeis (JAF Group), including the company's activities in Hong Kong, China, Vietnam, Indonesia and the African units.
Also in 2014, DLH divested parts of its European business (Poland and Slovakia) and also the US trading business.
DLH is a Danish owned group and since 1908 trading in timber and timber products all over the world.
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