Jul 01, 2009 08:00
St Peter Port, Guernsey, 1st July, 2009 - The Forest Company Limited ("The Forest Company" or the "Company"), a closed-ended investment company incorporated and registered in Guernsey, announces that on the 1st of July, 2009 planting commenced in Paraná, Brazil.
The planting will be carried out on farms leased from the project partner, Klabin S/A; the leading packaging paper producer in Brazil. The Company has contracted local planting companies to conduct soil preparation, fertilisation and planting. Clones of eucalyptus will be used for the planting, which have been developed by Klabin over several years to suit the growing conditions of the area. Planting will continue over the following months with a ratio of some 400 ha per month, adding up to a total of about 2,500 ha at the end of 2009.
The Forest Company are pleased with the fact that the implementation of the investment is going according to plan.
For additional information, please contact:
Johan Larsson, Timber Capital Limited + 44 7825 139 184
About The Forest Company:
The Forest Company was founded in 2007. The business concept of the Company is to use experienced Directors and an Investment Manager, with expertise in the forestry and financial sectors, to build and sustainably manage a diversified portfolio of trees, timberland and other timber related assets. The emphasis will be on investments with high biological growth, directly or in partnership with major wood fiber consuming industrial entities or other suitable partners.
In March 2008 The Forest Company completed its first capital raising amounting of USD 50 million. Management invested USD 10 million and the other shareholders include Ilmarinen, Ahlström, Sampo, Kåpan and Robur.
Initially, the Company is focusing on Brazil and is currently fully committed in two initial investments, with possible follow-on investments.
__________
This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and dependencies, any State of the United States and the District of Columbia), Canada, Australia or Japan. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act").
Securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States. No offer is directed at individuals whose participation would require additional prospectus, registration or other measures beyond those prescribed by Swedish law, or would violate applicable rules in such countries. Any Prospectus or application form relating to any offer, may not be distributed in any country in which the distribution of an offer or any offer itself requires measures as outlined above, or are contrary to the regulations in such countries.