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21 May 2009 09:30
21 May 2009
Cambium Purchases New Zealand Timber Lands
Jersey -The Directors of Cambium Global Timberland Limited announce that the company has acquired approximately 3,200 acres of mid-rotation radiata pine plantation on the south island of New Zealand, for approximately 2,255,000 sterling. 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 will be managed on an environmentally and socially sustainable manner and FSC certification will be sought.
With this acquisition Cambium is fully invested in a portfolio diversified across geography, age class, and species. 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.
For More Information:
Rich Standeven
CP Cogent Asset Management
+1 214 871 5400
Nominated Advisor:
Melville Trimble
PwC
+44 (0)207 213 8898
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