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Feronia Inc (2)
Symbol FRN
Shares Issued 55,205,051
Close 2014-10-03 C$ 0.65
Market Cap C$ 35,883,283
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Feronia appoints Bois d'Enghien as ESG project director

2014-10-06 10:08 ET - News Release

Mr. Ravi Sood reports

FERONIA INC. APPOINTS ESG PROJECT DIRECTOR

Feronia Inc. is appointing Pierre Bois d'Enghien as environmental, social and governance (ESG) project director. He will be responsible for the continuing implementation of the company's environmental and social action plan (ESAP).

Mr. Bois d'Enghien has a master's degree in environmental sciences, is a qualified ISO 14001 environmental internal auditor, and occupational health and safety adviser, and recently qualified as an RSPO (Roundtable on Sustainable Palm Oil) lead auditor.

He has worked extensively in the palm oil industry across Southeast Asia and Africa, including at Feronia's Yaligimba plantation from 1989 to 1991. More recently, Mr. Bois d'Enghien was manager of the sustainability department for Socfin Group, where he implemented environmental management systems according to ISO 14001 standards across Africa. He will spend a significant amount of time at the company's operations in Kinshasa and at each of its three plantation sites in the Democratic Republic of the Congo.

Raymond Batanga, chief operating officer of Feronia, commented: "Attracting someone of Pierre's calibre to lead Feronia's ESG project is a considerable achievement for the company.

"When we began the process of rehabilitating our palm oil business in 2009, years of severe underinvestment meant that we had to initially concentrate on investing in key infrastructure to allow the resumption of production. Now, with most key infrastructure investments completed, we are able to focus on ESG and long-term investments in our social infrastructure. Our environmental and social action plan places community and sustainability at the heart of Feronia's agenda, and Pierre's appointment is indicative of our determination to reach and maintain the highest standards in these critical areas."

Mr. Bois d'Enghien added: "As an ESG specialist, it is important to me that any company I work for is 100 per cent committed to achieving the highest ESG standards. This is certainly the case with Feronia, and I am delighted to be leading this project. Having worked for Feronia's palm oil business 23 years ago when it was in its prime, I know how great the business once was. To now be part of the team restoring it to its former greatness, and overseeing the transition to international ESG standards and best practice, is truly a privilege."

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