Sign In
7 Oct 2008 07:15
7 October 2008
Cambium Purchases Brazil Timberland Property
Jersey - The Directors of Cambium Global Timberland Ltd are pleased to announce they have acquired approximately 25,700 acres of bare-land timber property located in northern Brazil. The greenfield eucalyptus project is being developed on land previously used for grazing and is in a region with multiple end use markets. The initial expenditure to purchase the land is approximately £4,600,000. An additional commitment of up to £4,600,000 will be required to establish the plantations over the next two years. It is anticipated that the eucalyptus will be grown on a rotation length of seven years. This investment is complementary to the £15,000,000 charcoal strategy in Brazil announced by Cambium in July.
This investment is projected to provide returns at the top end of expected returns for the region. The project will be managed on a socially and environmentally sustainable basis.
For More Information:
CP Cogent Asset Management
Rich Standeven / Matt Haertzen
+1 214 871 5400
Landsbanki Securities
Paul Fincham / Jonathan Becher
+44 (0)207 426 9000
Follow the stocks
