StockMarketWire.com - Active Energy Group (AIM: AEG.L), the AIM-listed international supplier of industrial wood chip for MDF manufacturing and Biomass for Energy (BFE) power generation, second-generation Biomass for Energy (BFE) fuel solutions and systems, and global forestry and natural resources development services, has assigned the balance of its contract to supply wood chip to Biomasse Italia SpA from Montenegro to an unrelated third party.

This move is intended to allow AEG to focus its resources on its rapidly-expanding high-margin Ukrainian operations, which are now the country's largest producer and exporter of processed wood products, including wood chip for MDF manufacturing; and on its Canadian forestry and natural resources joint venture, which is developing in excess of 250,000 hectares of lands owned by the Métis Settlements of Northern Alberta.

As a result of this move, AEG will have no further revenues or costs associated with the Biomasse Italia supply contract.




At 12:30pm: [LON:AEG] Active Energy Group share price was +0.43p at 7.23p



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