Caravelle International Group ( Nasdaq:CACO), a global Océ technology company Anique announced that it has partnered with an American company to manufacture wood products in Gabon, Africa, for export to the United States.

The Government of Gabon has granted the partnership between Caravelle International Group (Nasdaq:CACO) and an American company the use of 165 acres of land for the sawmill location. Indeed, they will produce laminate wood flooring, plywood, and other wood products. Because of cheaper wood and labor in Gabon, but also because the African Growth and Opportunity Act will allow the duty-free import of these products into the United States, the products will have a significant cost advantage over wood products made in the United States.

The partners estimate that the company will generate $200 million in annual revenue within several years. This is another example of how the Company is making its business less cyclical and more profitable. According to Guohua Zhang, CEO of Caravelle, “This is an exciting new venture for Caravelle and our U.S.-based partner.”