TFC acquires 2,569 ha in ColombiaJun 28, 2011 15:30
The Forest Company acquires 2,569 hectares of land and standing pine in Colombia
St Peter Port, Guernsey, Tuesday, June 28th, 2011 - The Forest Company Limited, a closed-ended investment company, incorporated and registered in Guernsey, announced the acquisition of a further 2,569 hectares of land, including 1,723 hectares of standing pine, in the Antioquia region near Medellin Colombia through its MS Timberland Holdings Limited project company. This investment brings The Forest Company's total ownership in the region to 10,605 hectares. The Company plans to harvest these plantations on a sustainable basis, replanting shortly after harvest.
MS Timberland Holdings Limited, established in 2010, is a jointly-owned project company in which the Forest Company holds a 90% stake and Cotopaxi, an Ecuadorian wood-based panel manufacturer, owns 10%.
"This acquisition brings The Forest Company a significant amount of standing pine which can be harvested over the next few years and is important in creating a balance portfolio between near term and future wood-flow." says Harald Orneberg, CEO of Timber Capital Limited, the investment manager to The Forest Company.
The Forest Company operates the Antioquia project through a long term co-operation with Cotopaxi.
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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