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JET Investment wins tender for LESS and TIMBER’s plants

Investment group JET Investment has won the tender for the plants of LESS & TIMBER, which is currently in insolvency proceedings. Price was the sole criterion and JET Investment has offered the highest bid the investor intends to preserve production in the company, which owns sawmills, a glued squared log production facility and runs a forest biomass cogeneration unit. According to JET Investment’s majority managing partner Igor Fajt, LESS & TIMBER is a strategic and long-term investment and the investor wants to take over the companies as soon as possible and launch their revitalisation in early 2015.