The global online timber trading company has demerged from KDM International PLC, the UK timber business, and become a PLC in its own right.
TIMBERWeb.COM can also announce today the signing of an exclusive strategic partnership with Jaakko P÷yry, the world’s leading management consultants for the timber industry.
Jaakko P÷yry has recognised TIMBERWeb.COM as the world’s leading timber website in its particular Business To Business (B2B) market segment and is committed to retaining the company’s pre-eminent position.
The newly-formed Board of TIMBERWeb.COM is led by Chairman and CEO Mr Keith Richmond. Malcolm Morley has been named Chief Operating Officer overseeing the e-trading operation. Russell Blackman has been appointed Chief Technology Officer; Paul James Harris as Director of News and Content; and Richard Fairbanks as the company’s Financial Director.
The company is currently finalising pre-IPO funding to finance a step-change in its timber ‘etrading’ operation.
Funding negotiations are at an advanced stage and it is expected that this will be concluded very shortly.
Investors are being attracted to TIMBERWeb.COM’s solid business model and its pedigree. Two months ago it was judged the Barclays and Sunday Telegraph Mid-Corporate @chiever of 2000. The judges were impressed by the firm’s global vision in establishing its ‘eMarket’ and its effective exploitation of a variety of revenue streams through its ongoing development.
Mr Richmond told the TTJ: “The demerger of TIMBERWeb.COM is an important step towards reinforcing the neutrality of the first global eMarket as well as profiling the business for its new investment.
“The formation of a new Board of Directors is the final step in the creation of our truly independent, transparent eMarket.”
The demerger was completed on Friday, September 1.
Please contact: Paul Harris on 01473 632636 for further details.
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