May 21, 2009. Cambium Global Timberland Ltd has acquired approximately 3,200 acres of mid-rotation radiata pine plantation on the south island of New Zealand, for approximately GBP 2.26 million ($3.5 million).
Cambium Global acquires New Zealand timberlands for GBP 2.26 million ($3.5 million)
May 21, 2009. /Lesprom Network/. Cambium Global Timberland Ltd has acquired approximately 3,200 acres of mid-rotation radiata pine plantation on the south island of New Zealand, for approximately GBP 2.26 million ($3.5 million), as RTTNews informed Lesprom Network.
The property is positioned to serve the high-growth log markets of Asia via the export market with harvest to begin in 2020. The property would be managed on an environmentally and socially sustainable manner and FSC certification will be sought.
With the acquisition, Cambium is fully invested in a portfolio diversified across geography, age class, and species.
Further, CP Cogent Asset Management as fund manager will continue to actively manage the portfolio and work to monetize values associated with emerging environmental markets.
The project will be managed on a day to day basis by New Forests.
