19 Jun 2007 10:52
Cambium Global Timberland Limited19 June 2007 Cambium Global Timberland Limited Headline: Cambium Global Timberland Limited Secures Timberland Asset The Directors of Cambium Global Timberland Limited (Cambium) are pleased toannounce that Cambium has acquired 21,853 acres of income producing timberlandin East Texas for approximately 13 million pounds. The property, located near Corrigan, Texas, approximately 150 kilometers northof Houston, will fill approximately half of Cambium's target allocation for theNorth American region. The property is a professionally managed diverse pineplantation that has a well-structured array of age classes that allow forimmediate income generation from existing saw-timber, and continued long-termgrowth from less mature trees. Marketable products include saw-timber and pulp,which will be sold into the healthy East Texas market. Finally, existingsupply agreements with three distinct local mills will provide pricing andreturn stability, and assure the long-term viability of the asset. Cambium will continue to professionally manage the timber on an ongoingsustainable basis while also actively working to exploit possibilities for yieldenhancement through conservation easements, hunting leases, and otherenvironmentally sustainable options. This information is provided by RNS The company news service from the London Stock Exchange