TFC announces appointment of Indufor OyJun 20, 2011 14:00
St Peter Port, Guernsey, Monday, June 20th, 2011 - The Forest Company Limited, a closed-ended investment company, incorporated and registered in Guernsey, announced the appointment of Indufor Oy as independent valuer of the Company's forestry assets in Brazil. Indufor Oy was already the independent valuer of the Company's forestry assets in Colombia since December 31st, 2010.
The previous valuer of the Company's forestry assets in Brazil, Silviconsult Engenharia, was appointed in 2008, and with which the Company has maintained an excellent working relationship. In keeping with best practice, however, the Company aims to rotate independent valuers every three years and has appointed Indufor as its valuer starting from June 30th.
Sally-Anne Baron, Chief Financial Officer for Timber Capital as investment manager to The Forest Company said: "We are pleased with the appointment by The Forest Company of Indufor as our independent valuer. The work that the independent valuers conduct on a quarterly basis, and their role together with the auditors of The Forest Company in determining the true value of our forestry assets underpins the confidence of our investors and their long term commitment. We look forward to working with Indufor in both Colombia and Brazil".
For additional information, please contact:
Vielcka D. Dutt, The Forest Company, +1 441 295 4736
About The Forest Company:
The Forest Company combines socially and environmentally responsible forestry investments with unique potential for stable and attractive returns through participation in the value chain of competitive and sustainable industries.
The Forest Company Limited is a closed-ended investment company, incorporated and registered in Guernsey in 2007, in order to take advantage of investment opportunities in trees, timberland and timber related assets. The Company focuses on forest plantations in areas with high biological growth rates, such as Brazil and Colombia. As of May 27th, 2011, The Forest Company has raised USD243 million in equity capital through private placements to institutional investors and family offices. Thus far, the Company has committed capital to four projects, which include both greenfield and standing plantations located in Brazil and Colombia.
The Company aims to build a diversified timberland portfolio in terms of age, class and species that is intended to maximise the risk/return profile. The Company believes that this approach will generate both long-term capital appreciation for shareholders and an attractive and sustainable income yield. For more information, visit www.theforestcompany.se.
Timber Capital Limited is the investment manager to The Forest Company.
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