Jan 03, 2011. /Lesprom Network/. The Board of Phaunos Timber Fund Limited announced that the company's indirect subsidiary, Green China (Jiangxi) Forestry Co. Ltd has completed two additional timberland acquisitions in Jiangxi, China. The total consideration for both transactions is approximately $13.2million. The assets consist of pine, fir, and other species, which are grown for the sawn timber market. Qinhai Xia, Director of Investments and Acquisitions at FourWinds Capital Management, the Company's investment manager, commented on the announcement, "We are very pleased to complete the acquisition of these two assets. With sustained strong GDP growth in China, we continue to believe thatthe fibre shortage in China will take time to reach equilibrium while timber prices continue the favourable trend."