MIAMI - Amazonas Florestal, Ltd. (OTCPK:AZFL), a forest management company, says it signed a joint venture for wood products trading with BPA Trading & Investments Corp., a global trader and exporter with timber operations in Brazil and trading desks in Sao Paulo, Hong Kong, and Guernsey, UK.
Under the deal, BPA’s Brazilian affiliate will provide upwards $1 million in factoring credit financing for wood trading operations. The factoring credit facility will be on a 30-90 day revolving credit facility to finance purchase orders relating to its timber agent activities.
“This agreement helps satisfy the capital requirements needed to increase our trading/timber agent operations," says Amazonas CEO Michael Ibar, noting it "enables us to fulfill large orders.”
Headquartered in Miami, Amazonas employs a strategy of selective harvesting, biomass production, and conservation incentives. BPA Trading & Investments Corp. is an affiliated company of The Providence Companies.
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