ECOLOGIX Resource Group, a leading natural resource firm specializing in the production of timber-related alternative energy solutions, recently announced that the company expects to report record revenue by year end. ECOLOGIX has commenced operations in Cameroon ahead of schedule, leading to the company’s accelerated revenue forecast.
The company also cited leading market indicators for the increased demand leading to its advanced revenue forecast. According to the International Tropical Timber Organization (ITTO), approximately 60 percent of the timber imported to the Peoples’ Republic of China during 2008 was through Cameroon. In May 2009, China signed a voluntary partnership agreement with the European Union to ensure that only legal timber would be exported. In addition, Mr. Jia Zhibang, Administrator of the State Forest Administration of China, said that the Chinese government attaches importance to the role of forests in mitigating climate change and has already invested over US$70 billion in the timber market.
Jason Fine, chairman and chief executive officer of ECOLOGIX, stated, “We are pleased to be able to capitalize on the strong demand we are seeing in the marketplace. Due in large part to thoughtful planning and a relentless focus on execution we are now positioned to monetize our efforts ahead of schedule.” Mr. Fine continued, “While we have been very aggressive in terms of capitalizing on natural resources in a way that’s environmentally-friendly, we have been equally as diligent in running our operations in a manner that provides a solid foundation for future growth. If recent indicators of global market demand are any prediction of future growth, I can safely say ECOLOGIX has a bright future ahead of it.”