Acquisition

1 Jul 2008 10:40



1 July 2008

Cambium Purchases Florida and Georgia Timber Lands

Jersey - The Directors of Cambium Global Timberland Limited are pleased to announce Cambium has purchased 29,900 acres of timberland for approximately 44,000,000 USD (22,000,000 GBP equivalent).  

The property is located in Northwestern Florida and Southwestern Georgia. The property consists of professionally managed diverse pine plantations that possess a well structured array of age classes allowing immediate harvest income. Marketable products include saw-timber and pulp, which can be sold into healthy forest products markets that exist in this geography. The property also generates revenue from hunting leases. 

Cambium will continue to professionally manage the timber on an ongoing sustainable basis while also actively working to monetize values associated with emerging environmental markets. 

The project will be managed on a day to day basis by RMK Timberland Group.

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