Roseburg Resources to sell its California timberlands to New Forests

19 October, 23:25
Roseburg Resources Co. announced an agreement to sell its California timberlands to a timberland investment vehicle managed by New Forests. The transaction includes 170,000 acres in northern California, largely in Siskiyou and Shasta counties, as the company says in the press release received by Lesprom Network.

"The sale of our California timberlands would not be possible without the contributions of our California resource team," said Scott Folk, Roseburg’s Senior Vice President of Resources. "Thanks to the team’s work, these lands will remain working forest timberlands under the new management of New Forests, a leading timberland investment organization focused on long-term growth."

Founded in 2005, New Forests manages more than 2 million acres of land and forests around the world, with assets under management of more than $3 billion. Headquartered in Sydney, Australia, New Forests has offices in San Francisco, Singapore and New Zealand. The sale is expected to close in early 2018.

Roseburg Forest Products will retain ownership of its veneer facility located in Weed, Calif.



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