Australian forestry company, OneFortyOne (OFO) has announced its intention to purchase the Manuka Island forest estate in the Wairau Valley near Blenheim. The proposed purchase is now being reviewed by the Overseas Investment Office, as the company says in the press release received by Lesprom Network.
The Manuka Island estate is approximately 2,000 hectares of forest and currently owned by Merrill and Ring. Manuka Island will be integrated and managed as one forest estate by Nelson Management Ltd, the management company for Nelson Forests.
“The Manuka Island acquisition reflects our intention to continue to invest in the regions where we have an established presence. The acquisition complements our recent purchase of Nelson Forests and is a great fit for their estate,” says OFO’s CEO, Linda Sewell.
OFO is a leader in the Australian forestry industry. It holds long-term harvesting rights to a softwood plantation estate in the Green Triangle region comprising over 80,000 hectares.
